(via TheNewswire)
Paleo’s primary focus remains development of its oil and gas assets. Due to the continuing difficulties associated with raising financing for these projects, Paleo has continued to build out its digital finance unit, EF Resources, which provides the platform to access retail capital markets more efficiently, and without the significant dilution that accompany common share offerings.
In connection with the reinstatement of trading, Paleo provides the following operational updates:
Paleo Resources Oil & Gas Update
Paleo has secured approval from the
With respect to Paleo’s
EnergyFunders Update
Paleo is pleased to report that its indirect US subsidiary,
EnergyFunders LLC Management Team
https://www.energyfunders.com/ourstory#our-team
EnergyFunders LLC Digital Platform Home Page
https://www.energyfunders.com
tZERO Partners With EnergyFunders to Digitize & Trade
https://www.businesswire.com/news/home/20210520005286/en/tZERO-Partners-With-EnergyFunders-to-Digitize-Trade-25-Million-of-Securities-in-Its-New-Yield-Fund-I
Paleo is pleased to report that per the terms of the previously announced Field Genie transaction,
The Corporation has paid seven (7) of the twelve (12) installment payments to date, totaling US
Upon making each of the twelve (12) installment payments, the Corporation earns and receives a proportionate share of 50,000 common shares of
Update as to Shares for Debt Transaction
As announced on
Paleo Adds 6thBoard Member
At Paleo’s 2021 annual general and specialshareholders meeting held on
After successfully leading the startup of 3 unconventional plays, Nav then started up his own exploration and production company – OilRox Resources, in 2019. Nav holds a B.S. from the
Neither the
For further information please contact:
Interim Chief Executive Officer and Chairman of the Board
Email:rbraugh@paleooil.com
Telephone: 254-699-0975
Forward Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. In particular, this news release contains forward-looking information regarding the debt settlement, and the business of Paleo. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects Paleo's current beliefs and is based on information currently available to Paleo and on assumptions Paleo believes are reasonable. These assumptions include, but are not limited to: the underlying value of Paleo’s common shares, TSXV approvals of proposed transactions, Paleo's current and initial understanding and analysis of its projects and the exploration required for such projects; the costs of Paleo's projects; Paleo's general and administrative costs remaining constant; and the market acceptance of Paleo's business strategy.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Paleo to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: volatility in market prices for oil and natural gas; constraints on sour gas production; the availability of commodity markets and third party equipment, infrastructure and services; liabilities inherent in oil and natural gas operations; uncertainties associated with estimating oil and natural gas reserves; geological, technical, drilling and processing availability, upsets or problems; general business, economic, competitive, political and socialuncertainties; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations; competition; changes in legislation, including environmental legislation, affecting Paleo; the timing and availability of external financing on acceptable terms; and lack of qualified, skilled labour or loss of key individuals. A description of additional assumptions used to develop such forward-looking information and a description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in Paleo's disclosure documents on the SEDAR website at www.sedar.com. Although Paleo has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Paleo as of the date of this news release and, accordingly, is subject to change after such date. However, Paleo expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
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Copyright (c) 2021 TheNewswire - All rights reserved., source