Transaction
Under the terms of the Acquisition Agreement, Turner will
acquire the assets included herein of the existing Shipping Company
in an all equity transaction involving the issuance of Preferred
Shares of the Company, thus limiting dilution.
Turner and the investment bank believe that these assets can be
operated more efficiently than the previous company was able to
accomplish, and acquiring their assets at attractive valuations
will provide a competitive advantage. Turner is in discussions with
prospective executives and board members with experience in
international shipping to join Turner's management team to run this
new Turner subsidiary.
Upon completion of the Acquisition, the new Shipping Company
will be a wholly owned subsidiary of Turner. A bitumen tanker
company website with complete details and information about the new
venture will be revealed soon.
Management Comments
Steve Helm, CEO of Turner Venture Group, Inc. stated, "World
asphalt supply and demand is expected to grow exponentially by
2020. With the White House's recent proposal of $1 Trillion
infrastructure investment in the United States, we are excited for
the opportunity to capitalize on the dynamics of the shipping
industry and build value for Turner shareholders during a time
where asphalt trade is expected to rise both regionally and
globally."
Mr. Helm continued, "The current U.S. administration has pledged
to build new roads, highways and bridges across the country. Recent
Energy Administration data shows that the U.S. will require 63%
more asphalt than it consumes now just to pave roads at the rate it
was at 10 years ago. As a result of this initiative, asphalt
demand is expected to increase well beyond that level in the next
2-4 years, which makes the steady supply of bitumen so crucial to
making the improving of America's roads a success."
Growth Plan
To further take advantage of this, the new Shipping Company,
with backing from the investment bank, is actively pursuing the
acquisition of more bitumen tanker supply vessels. The Company
believes there is a solid plan and method of procuring more tankers
that allow Turner to obtain the new transportation vessels at
discounted valuations directly from other commercial banks.
Completion of the Acquisition is subject to a number of
conditions including completion by the Company of the audits and
SEC filings. Additional asset details, the investment bank and
other important updates will be announced to shareholders as they
are permissible via the Company's website, SEC & OTC Filings
and Press Announcements. Prospective investors and shareholders can
subscribe to corporate newsletter and download one corporate one
pager by visiting the Company's investor page: 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 Company's 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 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.
Website: http://turnerventuregroup.com/
OTC Markets Profile: http://www.otcmarkets.com/stock/TVOG/profile
Full Disclaimer here: http://turnerventuregroup.com/disclaimer/
CONTACT: Steve Helm, CEO, Email: ir@turnerventuregroup.com
or Matt Kochendorfer, IR Director, Email:
matt@turnerventuregroup.com
