Running Fox Resource Corp.
TSX VENTURE : RUN
FRANKFURT : C8Q
PINK SHEETS : RFXRF

Running Fox Resource Corp.

December 04, 2009 14:00 ET

Running Fox to Acquire Oilfield Service Company

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 4, 2009) - (TSX VENTURE:RUN) (PINK SHEETS:RXFRF) (FRANKFURT:C8Q)

Friday December 4, 2009, Trent Moore, Director, reports:

Running Fox to acquire oilfield service company:

Running Fox has entered into a conditional "AGREEMENT TO PURCHASE AND EXCHANGE SHARES" with a Northern Alberta-based oilfield service company. The agreement is conditional upon a successful due diligence examination with respect to the representations and warranties contained therein, receipt of all required approvals and certain post-acquisition financial arrangements satisfactory to Running Fox. The effective date of this conditional transaction is December 1, 2009.

If all conditions of the proposed agreement are met, and the transaction proceeds to closing, the combination of the newly-acquired company along with Running Fox's existing oilfield service operations will comprise a synergistic scope of capabilities, increased effectiveness in optimizing utilization of assets and the ability to offer decades of operational experience to a growing list of solid customers.

In an entirely unrelated matter, Running Fox has been named as co-Defendant in a Statement of Claim along with an inactive company for approximately $117,000. Running Fox is of the view that the claim is entirely without merit and will be vigorously defending the action.

Running Fox has 41.7 million shares outstanding, with positive exposure to energy, uranium, and gold.

Visit www.foxgold.ca for more information.

On behalf of the Board of Directors: Trent Moore, Director.

The Company relies on legislation applicable to forward looking statements, seeking safe harbour.

Contact Information

  • Running Fox Resource Corp.
    Trent Moore
    Director
    (403) 742-0527
    www.foxgold.ca