HOUSTON -- April 20, 2017 -- InvestorsHub NewsWire -- Turner
Valley Oil and Gas, Inc. (the Company) (Turner) (OTC:TVOG),
pending name change to Turner Venture Group, Inc., today announced
that it has entered into an exclusive engagement with Network 1
Financial Securities, Inc. to be the Companys Investment Banker to
complete a $25,000,000 capital placement. The placement will be
used to accelerate growth through acquisitions as previously
announced, one of which includes the strategic asset acquisition of
an International Bitumen Tanker Shipping Company.
"Network 1 Financial is a highly-regarded investment bank that
has shown recent success in helping other emerging OTC companies
effectively secure financing," said Steve Helm, CEO of Turner
Venture Group, Inc. "After meeting with the team at Network 1 in
New Jersey, we felt compelled and excited about their enthusiasm,
experience, depth of knowledge, and previous successes. We are
looking forward to working with Network 1 to help us meet our
capital raising needs to complete this first acquisition."
Management negotiated the placement utilizing preferred stock,
which will offer a yield to the investors and also help Turner keep
dilution of its common stock to a minimum. This transaction is
consistent with the previously announced acquisition of 5 (five)
Bitumen Tanker Ships valued at over $28MM and with a run rate of
over $14,000,000 in revenue, which has been structured using
preferred shares as well.
Turners management team has been working aggressively in the
last few months to complete all of the critical steps that were
shared with our shareholders. These milestones included the
identification and acquisition of key assets, engagement of an
auditor, engagement of an investment bank, and the execution of a
capital placement agreement.
With the engagement of Network 1, the Company will now work to
become fully SEC compliant, up-list to the OTCQB, and complete
final compliance and required closing conditions to fully
capitalize the Company for growth. The investment bank has a
successful track record covering over 30 years in taking emerging
OTC companies to larger exchanges like the NASDAQ and NYSE, and
Turner has plans to pursue the same path.
We are thrilled to be working with Turner Venture Group, Inc. on
this new and exciting opportunity. Due to the global surge in
demand for bitumen shipping, we believe this is the perfect time
for Turner to enter this segment. said Adam Pasholk, Managing
Director of Network 1 Financial Securities, Inc.
The Company is working with the Network 1 to finalize the
financial model including forward-looking projections the closing
of these initial 5 Bitumen Shipping Vessels as well as the
projected acquisition plan, which includes expansion via the
purchase of a large number of vessels at discounted valuations
which are currently under negotiation. Turner will announce these
details as well as other pertinent information through its
Corporate Website and in a subsequent press announcement.
Existing shareholders and prospective investors can sign up to
receive company news, announcements and investor updates at
http://turnerventuregroup.com/signup/.
About Turner Valley Oil and Gas, Inc.
Turner Valley Oil and Gas, Inc. (pending name change to Turner
Venture Group, Inc.) (OTC:TVOG)
is a business holding company, with a historical focus on energy
related holdings. The Companys acquisition model is focused on
finding and evaluating profitable small to mid-sized businesses as
acquisition candidates where cash flow can be improved through its
buy, build & bolt-on model within the shipping, real assets,
energy, infrastructure, hemp, enterprise technology, food and
beverage, and manufacturing segments.
Certain statements in this press release are forward-looking and
involve a number of risks and uncertainties. Such forward-looking
statements are within the meaning of that term in Section 27A of
the Securities Act of 1933, as amended and Section 21E of the
Securities Exchange Act of 1934, as amended.
Contacts:
Steve Helm, CEO
Turner Valley Oil And Gas, Inc. (pending name change to Turner
Venture Group, Inc.)
Phone: 1-713-588-9453
Email: ir@turnerventuregroup.com
Website: http://turnerventuregroup.com/
Address: 3270 Sul Ross, Houston, TX 77098