TG World Energy Corp.
TSX VENTURE : TGE

TG World Energy Corp.

March 04, 2011 13:00 ET

TG World Energy Corp. Announces Results of Special Meeting

CALGARY, ALBERTA--(Marketwire - March 4, 2011) - TG World Energy Corp. (TSX VENTURE:TGE) ("TG World" or the "Company") is pleased to announce that, at the special meeting of its securityholders held this morning, the securityholders overwhelmingly approved the Company's proposed arrangement with TVI Pacific Inc. ("TVI") under the Business Corporations Act (Alberta). Securityholders voted 99.79% in favour of the arrangement and the arrangement also received the required majority of the minority approval. Shareholders also voted 99.92% in favour of a conversion price of $0.05 per share with respect to the Company's $1,317,500 principal amount convertible promissory note previously issued to TVI.

On Wednesday, March 9, 2011, the Company is scheduled to seek a final order for the approval for the arrangement by the Court of Queen's Bench of Alberta. If the Court approves the arrangement, it is anticipated that the arrangement will be completed on or about March 10, 2011.

Corporate Profile

TG World is a Calgary-based, junior international oil and gas company with exploration, development and production operations in the Philippines, Alaska and Niger.

TG World (BVI) Corp. (a wholly-owned subsidiary of TG World) is partnered with operator Nido Petroleum Ltd., Kairiki Energy Ltd. and Trafigura Ventures III BV in a joint venture for Service Contract 54A in the North West Palawan Basin of the Philippines.

TG World Energy Inc. (a wholly-owned subsidiary of TG World) is partnered with operator Brooks Range Petroleum Corp., Alaska Venture Capital Group, Brooks Range Development Corp. and Ramshorn Investments Inc. in a joint venture that is pursuing oil and gas opportunities on the Central North Slope of Alaska.

TG World Petroleum Ltd. (a wholly-owned subsidiary of TG World) is partnered with operator CNPCIT, a unit of the China National Petroleum Company, in the Tenere Block oil and gas concession in the Republic of Niger, Africa.

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.

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