True North Energy Corp. (TNEN)

[Golden Cross]

True North Energy Announces Acquisition
Press Release | 10/07/2019
SPRING, TX / ACCESSWIRE / October 7, 2019 / True North Energy Corporation (OTC PINK:TNEN) ("True North"), is pleased to announce the acquisition of Box 23, Ltd, a UK organized entity, holding a majority interest in 3 Store Web SRL, an Italian entity located in Milan, Italy currently employing a staff of 36. 3 Store Web SRL serves as the exclusive seller of SIM cards and services as authorized by Wind Tre S.P.A., owned by Hutchison Whampoa Limited, a Fortune Global 500 company. The aggregate purchase consideration includes the issuance of common shares in True North.

Michele Antonicelli is the CEO of Box 23, Ltd and 3 Store Web SRL and will continue to serve in that position.

True North will begin financial consolidation of Box 23 Ltd and 3 Store Web SRL as of October 1, 2019. 3 Store Web SRL has audited results under United States generally accepted accounting principles (GAAP) for the period ended December 31, 2018 which included revenues of approximately USD$4mm for the year 2018.

About True North Energy Corporation

Traditionally, True North Energy Corporation has engaged in the identification, acquisition and development of oil and gas properties. Through its subsidiary, TN Energy Corp, a Texas Corporation, the company holds overriding royalty interests on oil and gas properties located in Colorado and Oklahoma.

Contact:
True North Energy Corporation
24624 I - 45 North Suite 200
Spring, TX 77386
[e-mail]
Phone: [phone]