SOURCE: Grid Petroleum Corp.

Grid Petroleum Corp.

March 02, 2016 08:00 ET

Grid Petroleum Corp. 2016 CEO Directional Statement

DENVER, CO--(Marketwired - Mar 2, 2016) -  (OTC PINK: GRPR) "2016 the global oil and gas market is in the midst of a tremendous downturn in the commodity market price for oil. Grid Petroleum business focus as a junior oil and gas exploration company, in the current market climate with no potential for a commodity rally predicted within the next 24 to 48 months, management of Grid has determined the best interest of the shareholders and creditors is to execute a two pronged plan. First Grid has begun discussion with potential operating businesses to reverse merger into the company and secondly we intend to create a new Wyoming subsidiary to transfer all of our current oil and gas assets," said CEO Edward Aruda.

Current management has been using the following guidelines for the discussion with the acquisitions targets:

1.) Grid is looking for a current operating business with a history of operating income and a solid product or service.

2.) The target company has a need to access the public market to expand their current product or service to grow their business.

3.) The target company must have a good management team in place that guides and develops long term grown strategy and understands the demands of shareholders and creditors.

4.) Revenue growth potential of the target entity. 

In addition to change the core business focus, management has determined the need to enhance the current level of corporate governance during the next calendar year for the benefit of the company's value. We are committed to the following improvements before years end:

1.) Grid management is activity working to recruit new members to the Audit Committee;

2.) Grid is activity working to recruit new outside directors to the Board of Directors to assist in guidelines for the company;

3.) Looking to hold an annual shareholders meeting during third quarter of 2016;

4.) Due to the goals and ambition of the current management's plan during the next year Grid will most likely need to retain professional banking advice to guide the management on how to handle the company's current debt load and attract new capital for the expansion of our target business;

Grid does not intend to abandon it current assets or operations. In the alternative we are going to move all our current assets into a new subsidiary based in Wyoming. The new subsidiary will have the mandate to acquire and hold land leases in North America to be held for exploration once the underlying commodity prices return. Management believes that while the main operations and capital demands of Grid are changing, using the current assets and knowledge to lay a foundation for long value in the O&G arena shouldn't be abandon. In the alternative management is taking a longer term position, the new subsidiary to be dividend off once the commodity market returns to more favorable price will benefit all parties involved.

About Grid Petroleum Corp.
Grid Petroleum Corp. (OTC PINK: GRPR) is a development stage company focused on the acquisition and development of low cost, high reward prospects where higher returns are available. For more information about Grid Petroleum Corp., visit the website at www.gridpetro.com.

Forward Looking Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. Grid Petroleum Corp., is a company with limited experience in the oil and gas industry. At the time of this release Grid Petroleum Corp. lacks the financial capabilities to meet its financial obligations and its management expects to dilute the Company's shares to raise the necessary operating capital. Based upon industry standards Grid would be considered highly speculative and lacks any competitive advantage over its competition. Additional risks you should consider are that this list is limited and additional risks not mentioned may apply: failure to meet Grid's financial and contractual obligations, Grid's managerial errors made based upon the Company's limited experience and knowledge of the industry, commodity risk, acts of God and regulatory risk. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.

Contact Information