VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 28, 2014) - CaiTerra International Energy Corporation (TSX VENTURE:CTI) ("Caiterra" or the "Company"), announces that, subject to regulatory approvals, the Company has entered into an agreement on July 25, 2014 to acquire an undivided 100% beneficial interest in and to a total of 135.68 square kilometers of oil and gas leases located in northern and central Alberta. The agreement was reached between the Company and BowRiver Development Canada Ltd. of Calgary, Alberta ("BowRiver"). Consideration for the purchase of the leases and lands described below requires the payment to Bow River of 1,000,000 common shares of the capital stock of Caiterra.
| Leases or Licenses |
Lands and Rights |
Area in Total (Ha) |
| 5412090365 |
PNG 5-22-112 Section 30-31 5-23-112 Sec: 1-4, 9-12, 14-15, 22-23, 25-27 |
6,144(Ha) |
| 5412090355 |
5-22-111 Sec: 11-16, 19-35, 5-22-112 Sec: 2-6 |
7,168(Ha) |
| 0413090081 |
4-27-039 Sec: 18 |
256(Ha) |
| Total Area |
13,568 (Ha) = 135.68 km2 |
ON BEHALF OF THE BOARD
Craig Robson, Director
Cautionary Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The TSX Venture Exchange Inc. has in no way passed on the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.
A Note regarding Forward-Looking Information
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "will", "expects", "believe", "plans", "potential" and similar expressions are intended to identify forward-looking statements or information. The Company cautions that there are no assurances or guarantees that the transaction will be completed as proposed or at all.
Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks of failure to obtain the necessary regulatory approval, stock exchange and other regulatory approvals. Management has included the above summary of assumptions and risks related to forward-looking information provided in this press release in order to provide security holders with a more complete perspective on the Company's future operations and such information may not be appropriate for other purposes.
The forward-looking statements and information contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.