Today's new PR:
James Monroe Capital Enters into Talks with an Oil Company For a Possible Joint Venture
Business Wire "US Press Releases "
KILLEEN, Texas --(BUSINESS WIRE)--
Frank Love, the president of James Monroe Capital (PINK SHEETS:JMCP), is pleased to announce that James Monroe Capital has entered into talks with an oil company that has up to $270 million dollars of unrefined crude. The value of this inventory has not been realized due to two factors.
Firstly, the oil company needed financing to obtain the processing equipment to be placed at the various sites where this inventory sits. This will be one of the terms that James Monroe Capital may have to fulfill. In addition, this may help shareholders understand the reason behind acquiring a gold asset.
Secondly, the oil company needed the technical expertise through a solution in obtaining the oil from its present state. Frank Love states, "We are based in Texas (The Big Oil Patch) and with my knowledge and that of my contacts, we have helped to obtain the solution to this Company's rather complex problem."
Details will be announced in the very near future once the deal has been finalized.
Frank Love states, "This is an extremely exciting time for James Monroe Capital, its Subsidiary and its Loyal Shareholders. We could potentially have significant revenues."
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Source: James Monroe Capital Corp.
