Pacific Oil Company Enters Into Agreement to Secure $1,000,000 in Financing
April 07 2014 - 8:45AM
Marketwired
Pacific Oil Company Enters Into Agreement to Secure $1,000,000 in
Financing
LAS VEGAS, NV--(Marketwired - Apr 7, 2014) - Pacific Oil Company
("Pacific Oil" or the "Company") (OTCQB: POIL) announced today that
it has entered into an agreement with The Herman Companies Inc. to
secure $1,000,000 in financing. Once secured, this financing will
support Pacific Oil's business strategy through 2014 and expedite
its previously announced acquisition schedule.
Ed Loven, Vice president of Pacific Oil, said, "Having
additional capital available to speed up both our announced
acquisitions and operational efforts is a positive development for
Pacific Oil and its shareholders. Besides accelerating current
initiatives, a financing of $1,000,000 should provide us with
further opportunity for growth while lowering our company's overall
risk.
"The financing we are contemplating at this time is pure debt
based on the value of our assets. Since no shares will be issued
and no shares will be put up as collateral, the financing will be
isolated from Pacific Oil's public market presence."
The Company also announced that it is current again in its SEC
filings and thus has returned to fully reporting status.
About Pacific Oil Company: A Nevada based corporation, Pacific
Oil Company is a dynamic junior energy company with established
assets and production within the energy rich province of
Saskatchewan, Canada.
The Company continues to add value and set the stage for rapid
success through low risk acquisitions and organic growth achieved
through further development of existing properties. Pacific Oil's
management believes that a balance must be struck among short term
profitability, increasing net worth and long term growth.
Operational efficiency achieved through the minimization of
administrative overhead is a key component of controlling costs and
maximizing profits. All capital expenditures must provide
value and risk control must be present at all times.
Forward-Looking Statements This news release contains
"forward-looking statements" as that term is defined in Section 27A
of the United States Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended. Statements
in this press release which are not purely historical are
forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
new projects and development stage companies. These forward-looking
statements are made as of the date of this news release, and the
company assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although management believes that any beliefs, plans, expectations
and intentions contained in this press release are reasonable,
there can be no assurance that any such beliefs, plans,
expectations or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and should
also refer to the risk factors disclosure outlined in the company's
annual report on Form 10-K for the most recent fiscal
year, quarterly reports on Form 10-Q and other periodic
reports filed from time-to-time with the Securities and Exchange
Commission
CONTACT: Pacific Oil Company Ed Loven 1 888 303 2272 ir@poil.us
10120 W. Flamingo Rd., #4 - 240 Las Vegas, NV 89147 USA
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