TORONTO, March 26, 2013 /PRNewswire/ -- Sillenger
Exploration Corp. ("Sillenger") (OTCQB: SLGX), is pleased to
announce it has entered into a Letter of Intent with
Toronto-based Ecuador Bancorp to
conduct business in Ecuador.
Through its relationship with Ecuador Bancorp Inc., Sillenger is
examining, for the purposes of acquisition or Joint Venture,
certain natural resource assets or businesses in Ecuador. A
business model would include the vertical integration of a wood
business from sales to lot to mill to shipment. Woods
available include softwoods, hardwoods and tropical
exotics. Teak and other woods suitable for building furniture
and flooring are abundant. Ecuador Bancorp has numerous
established relationships in Ecuador and is well positioned to develop
these assets and opportunities.
"While the Company's primary focus is West Africa, management continues to seek and
consider other opportunities to generate revenue and create value
for our shareholders," stated John
Gillespie, President of Sillenger. "Ecuador Bancorp could
potentially generate substantial sustainable cash flow and provide
a solid foundation for growth."
"Ecuador Bancorp's business strategy in South America is similar to Sillenger's
Africa strategy," said Ecuador
Bancorp Managing Director Alan
Irwin, "and we believe it is prudent to explore our
synergies to develop a mutually beneficial relationship."
About Sillenger Exploration Corp.
Sillenger is a natural resource development company dedicated to
bringing a progressive, creative and proprietary approach to
natural resource exploration. Sillenger works in partnership with
governments of developing nations to help attract foreign capital
investment to stimulate economic growth through the development of
their natural resources sectors.
The Sillenger CLP Claims Licensing Program®
is a turnkey process used in partnership with Governments to
improve the way their natural resources are managed. Sillenger's
Government partners provide a "fast-track" to expediting all
necessary permits, licenses, legal, and other bureaucratic
documentation and procedures that exploration and extraction
companies would require in order to begin their work programs in
these countries.
Forward-Looking Statements
Information in this press release may contain 'forward-looking
statements.' Statements describing objectives or goals or Sillenger
Exploration Corp.'s future plans are also forward-looking
statements and are subject to risks and uncertainties, including
the financial performance of Sillenger Exploration Corp. and market
valuations of its stock, which could cause actual results to differ
materially from those anticipated. Forward-looking statements in
this news release are made pursuant to the 'Safe Harbor' provisions
of the United States Private Securities Litigation Reform Act of
1995.
Contact:
Sillenger Exploration
Corp
Email: info@sillenger.com
Website: http://www.sillenger.com
SOURCE Sillenger Exploration Corp.