VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 25, 2012) - Xemplar Energy Corp. (the "Company") (TSX VENTURE:XE)(FRANKFURT:E7R)(NAMIBIA:XEM) is pleased to announce that it has received conditional approval from the TSX Venture Exchange (the "Exchange") to complete its previously announced change of business ("COB") transaction pursuant to which it will acquire inventory and certain land, machinery and equipment used for the growing, harvesting, sale and exporting of pecan crops in southwest Texas (the "Acquisition"), subject to satisfaction of certain conditions imposed by the Exchange.
The Acquisition remains subject to shareholder approval which will be sought by the Company at a special meeting of its shareholders to be held on August 15, 2012. A management information circular dated July 20, 2012 (the "Circular") in connection with the special meeting was mailed today to shareholders of record as of July 3, 2012. Subject to receipt of regulatory and shareholder approval, it is expected that the Acquisition will be completed on or about August 15, 2012.
For further information with respect to the Acquisition and the COB reference should be made to the Circular, a copy of which has been filed by the Company on The System for Electronic Document Analysis and Retrieval (SEDAR) and will be available under the Company's profile at www.sedar.com.
The TSX Venture Exchange has in no way passed upon the merits of the proposed Acquisition and has neither approved nor disapproved the contents of this press release.
On behalf of the Board of Directors of
XEMPLAR ENERGY CORP.
Ron Mitchell, Chairman and Director
Certain statements contained in this press release may include forward-looking information with respect to the Company's operations and future financial results. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. Further information can be found in the disclosure documents filed by the Company at www.sedar.com.
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.