King Resources, Inc. (KING) Introduces Merger Candidate: USA-Based Oil & Gas Company
November 30 2010 - 3:30PM
Marketwired
King Resources, Inc. (PINK SHEETS: KING)
(http://www.king-resources.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. Cressent recently (October 22) terminated merger
negotiations with a separate non related China based company.
http://www.minamargroup.net/support/index.php?_m=news&_a=viewnews&newsid=486.
King Resources, Inc. is currently evaluating this company and
feels that they are a favorable merger candidate.
Cressent has a small online presence see www.cressentenergy.com
to introduce the business to the KING shareholders. A second merger
with an European LED light manufacturing company is under
consideration by KING management as well.
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. KING management is
pleased to report that it has resolved its legal challenges with
its ex management and ex majority shareholders amicably. KING will
keep its shareholders updated as further information on this
promising transaction becomes available.
Safe Harbor Statement
Information in this news release may contain statements about
future expectations, plans, prospects or performance of King
Resources, 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. King Resources, Inc. cautions you that
any forward-looking information provided by or on behalf of King
Resources, 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. King
Resources, 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 King Resources,
Inc.'s control. In addition to those discussed in King Resources,
Inc.'s press releases, public filings, and statements by King
Resources, Inc.'s management, including, but not limited to, King
Resources, Inc.'s estimate of the sufficiency of its existing
capital resources, King Resources, Inc.'s ability to raise
additional capital to fund future operations, King Resources,
Inc.'s ability to repay its existing indebtedness, the
uncertainties involved in estimating market opportunities, and in
identifying contracts which match King Resources, 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.
King Resources, 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
Inquiry, www.minamargroup.net (IR), for (M&A) and Corporate
Matters, www.minamargroup.com
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