Petrox Resources Corp.
TSX VENTURE : PTC

Petrox Resources Corp.

October 14, 2014 15:05 ET

Petrox Resources Announces Extension of LOI for the Proposed Acquisition of the Corporation

CALGARY, ALBERTA--(Marketwired - Oct. 14, 2014) - Petrox Resources Corp. (TSX VENTURE:PTC) ("Petrox") is pleased to announce that, further to its news release of September 3, 2014 in which Petrox announced the assignment of a conditional, non-binding letter of intent on involving an arm's length business combination (the "Transaction") with a private entity from the People's Republic of China, the target date for entering into a definitive agreement for the Transaction has been amended to November 30, 2014.

Reader Advisory

Trading of the Petrox Shares will remain halted pending receipt and review by the TSX Venture Exchange of acceptable documentation regarding the Transaction. The proposed Transaction has not been approved by the TSX Venture Exchange and remains subject to TSX Venture Exchange approval.

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSX Venture Exchange acceptance. The Transaction cannot close until the required approvals are obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Petrox Resources Corp.
    Edwin Tam
    President and CEO
    (403) 270 - 2290 or (403) 237 - 8330
    (403) 228 - 3013 (FAX)

    Petrox Resources Corp.
    Alan Chan
    CFO
    (403) 270 - 2290 or (403) 237 - 8330
    (403) 228 - 3013 (FAX)
    www.petroxresources.com