Integrated Technology Group Inc. Executes Letter of Intent to Acquire Knight Energy Corp.
MISSOULA, Mont.--(BUSINESS WIRE)--April 28, 2006--Integrated Technology Group Inc., ticker symbol (OTC:ITGI), announced that its management has executed a letter of intent to acquire all the issued and outstanding capital stock of Knight Energy Corp. (Knight) based in Coppell, Texas.
Knight Energy Corp. (Knight) is a holding company that operates and develops energy related businesses and assets. In March of 2006, Knight acquired a 75% equity interest in an independent oil and gas services company that owns an executed lease agreement among other assets in Stephens County, Texas. The lease agreement contains approximately 160 acres that include four producing natural gas wells. Stephens County has been a successful producer of oil and gas over the last fifty years.
Knight also purchased and is managing its own drilling rig that will be used to drill additional wells on the current leased property as well as other potential properties that Knight is reviewing for consideration.
Knight is currently reviewing further acquisitions and investments in the oil and gas industry as well as other energy related businesses and assets. For further information please contact:
Cautionary statement for purposes of the "Safe Harbor" provisions of The Private Securities Litigation Reform Act of 1995: Any statements in this report that refer to the forecasted, estimated or anticipated future results of Integrated Technology Group Inc.("Integrated or the "Company"") are forward-looking and reflect the Company's current analysis of existing trends and information. Actual results may differ from current expectations based on a number of factors affecting Integrated's businesses, including competitive conditions and changing market situations. Matters affecting the economy generally, including the state of economies worldwide, can affect Integrated's results. Forward-looking statements represent the Company's judgment only as of the date of this report. Since actual results could differ materially, the reader is cautioned not to rely on these forward-looking statements. Moreover, Integrated disclaims any intent or obligation to update these forward-looking statements.