Kramer Capital Corp.
TSX VENTURE : KRM.P

July 17, 2012 17:00 ET

Kramer Capital Corp. Announces Expiration of Letter of Intent for the Acquisition of Oil and Gas Properties in the Ingoldsby Area of Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 17, 2012) -

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Kramer Capital Corp. (the "Corporation") (TSX VENTURE:KRM.P) wishes to announce that the letter of intent dated April 19, 2012 (the "Letter of Intent"), relating to a proposed acquisition from Villanova Oil Corp. of certain oil and gas properties in the Ingoldsby Area of Saskatchewan (the "Proposed Acquisition"), has expired and due to the inability to meet certain milestones required in the Letter of Intent, the Corporation has determined that it does not intend to pursue the Proposed Acquisition further.

The Corporation will continue to pursue and evaluate other businesses and assets with a view to completing a Qualifying Transaction and looks forward to announcing a potential acquisition in the near future.

Trading of the common shares of the Corporation is expected to resume, subject to regulatory approval, on or about July 19, 2012.

Cautionary statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The Corporation cannot offer any assurances that a qualifying transaction will be completed. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Neither 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.

Contact Information

  • Kramer Capital Corp.
    Brian E. Bayley
    President, Chief Executive Officer, Chief Financial Officer,
    Corporate Secretary and Director
    (604) 689-1428