ESGold Corp (SEKZF)

[Anty_Jr]

Nova Uranium Corporation to Acquire Taman Petroleum Corporation

Monday, 13 Feb 2012 10:52am EST

Nova Uranium Corporation announced that it has signed a Letter of Intent ("LOI") to acquire 100% of the outstanding shares of Taman Petroleum Corporation ("Taman"). Taman, a private Alberta Canada company, owns 8% of the South Temryuk Oil & Gas Exploration-Exploitation Licence located in the mature Azov-Kuban petroleum region of southwest Russia (the "Project"). Taman has a right to earn an additional 22% of the Project by funding and completing additional exploration or exploitation. Terms of the LOI agreement allow Secova to acquire 100% of the issued and outstanding shares of Taman in exchange for about 43,753,535 common shares of Secova, on the basis of one Secova share for each 1.4286 Taman shares (0.7 Secova shares for each one Taman share) such that on transaction closing Taman will be a wholly-owned subsidiary of Secova and Taman's shareholders will hold Secova shares. Upon completion of the transaction, Secova will have approximately 79.5 million issued and outstanding common shares.

http://www.reuters.com/finance/stocks/SEK.V/key-developments/article/2479496