SKANA Capital Corp.

February 28, 2011 09:30 ET

SKANA Extends Deadline to Complete Merger With MENA Hydrocarbons Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2011) - SKANA Capital Corp. ("SKANA") (TSX VENTURE:SKN) announces that it has agreed with MENA Hydrocarbons Inc. ("MENA") to extend the deadline for completing its merger to April 30, 2011 in order to provide for sufficient time to obtain all required information to complete its information circular required for the SKANA shareholder meeting necessary to approve the merger among other matters.

MENA is a private Alberta company, and is engaged in oil and gas exploration with a focus in the Middle East, North Africa and Mediterranean. SKANA believes that the Transaction presents significant potential for increased shareholder value as Mena expands its portfolio in the Middle East and North Africa region.

About SKANA Capital Corp.

SKANA is listed on the TSX Venture Exchange as an Investment Issuer and carries on business as a merchant bank. It makes strategic investments in resource-based and other opportunities that it believes have significant potential for appreciation through its financial involvement and guidance.

Forward-Looking Statements: Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of SKANA, including, but not limited to, the impact of general economic conditions, industry conditions, dependence upon regulatory and shareholder approvals, the execution of definitive documentation and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking 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.

Contact Information

  • SKANA Capital Corp.
    Greg Clarkes
    (604) 669-4899