We wish to advise our loyal shareholders that the company has entered into the final due diligence phase of our first "single" as promised. Treaty will close on or about February 20th, 2015 on an initial transaction that will see TREATY receive a net carried interest. This will allow the company to ensure that it covers its administrative and audit expenses on a monthly basis. Therefore the first “single” we wish to announce as part of our efforts to restore Treaty to full trading status is that of compliance and constancy. Shareholders can rest assured that funds will be held in trust and used only to ENSURE that the company maintains its corporate presence and begins to ensure regulatory compliance once again.
The transaction will encompass a current producing property in the Peace River Region of Northern Alberta, Canada. The transaction will be with a private Canadian Company, and contract operated by a skilled operator in the region. A complete description of the asset and all technical details will be provided to shareholders upon closing of the transaction.
The asset will be held in Trust for Treaty pending the outcome of all ongoing matters currently in front of the company. As Treaty begins to emerge from its current position in the marketplace this transaction will provide significant potential for development and growth, HOWEVER, now is the time to focus on stability and NOT expose the company to any unnecessary risk especially in light of the vagaries of current commodity prices. Copies of all executed agreements will be provided to shareholders upon closing via the company’s website.
We look forward to a successful closing and the completion of this first critical “single” for us, which as we mentioned in our December 22nd, 2014 update to shareholders; is our strategy as we come to the end of the first month of 2015. We’ve been working hard to bring about a solution that provides immediate stability and POSITIVE CASHFLOW but allows Treaty to be able to take advantage of significant upside as part of a well rounded and robust corporate strategy that WILL BE DEVELOPED at the right time, for the right reasons, at the right price.
We committed to working to give shareholders their company back, and that is what we will diligently strive to do. This first transaction should go a long way to taking those first necessary steps.
Thank you for your continued understanding and patience. We will continue to update shareholders as transactions physically close and progress is made in our efforts to restore Treaty to market stability
