LandStar Inc. (LDSR) Introduces Merger Candidate with USA-Based Oil & Gas Company
October 07 2010 - 3:48PM
Marketwired
LandStar Inc. (PINK SHEETS: LDSR)(http://www.landstarcorp.com)
management is considering a merger with a US-based oil and gas
company. The USA company is Cressent Energy
http://www.cressentenergy.com/ (Cressent).
This promising company is involved in natural gas exploration in
the state of Texas and has a number of assets, including 50 oil
wells and well equipment, totalling over 200 tanks and 20 pumping
units. LandStar is currently evaluating this company and feels that
they are a favorable merger candidate.
The merger would complement the operations of LDSR's current
subsidiary, Hubei Chuguan Technology Co. Ltd., which manufactures
vapor recovery units for the Chinese petrochemical industry.
Cressent company does not have a online presence. It recently
had a small website built by its IR company, and launched
www.cressentenergy.com to introduce the business to LDSR
shareholders.
The company will advise the investor public of any developments,
however, the merger has passed the underwriting and risk assessment
criteria and could come to fruition shortly. LSDR will keep its
shareholders updated as further information on this promising
transaction becomes available.
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Safe Harbor Statement
Information in this news release may contain statements about
future expectations, plans, prospects or performance of LandStar
Inc., that constitute forward-looking statements for purposes of
the Safe Harbor Provisions under the Private Securities Litigation
Reform Act of 1995. The words or phrases "can be," "expects," "may
affect," "believed," "estimate," "project" and similar words and
phrases are intended to identify such forward-looking statements.
LandStar Inc. cautions you that any forward-looking information
provided by or on behalf of LandStar Inc. is not a guarantee of
future performance. None of the information in this press release
constitutes or is intended as an offer to sell securities or
investment advice of any kind. LandStar Inc.'s actual results may
differ materially from those anticipated in such forward-looking
statements as a result of various important factors, some of which
are beyond LandStar Inc.'s control. In addition to those discussed
in LandStar Inc.'s press releases, public filings, and statements
by LandStar Inc.'s management, including, but not limited to,
LandStar Inc.'s estimate of the sufficiency of its existing capital
resources, LandStar Inc.'s ability to raise additional capital to
fund future operations, LandStar Inc.'s ability to repay its
existing indebtedness, the uncertainties involved in estimating
market opportunities, and in identifying contracts which match
LandStar Inc.'s capability to be awarded contracts. All such
forward-looking statements are current only as of the date on which
such statements were made. LandStar Inc. does not undertake any
obligation to publicly update any forward-looking statement to
reflect events or circumstances after the date on which any such
statement is made or to reflect the occurrence of unanticipated
events.
Contacts: Investor Relations: 1-647-426-1640;
www.minamargroup.net/helpdesk Investor Relations Department
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www.minamargroup.com LandStar Inc. colmking@landstarcorp.com