Platina States Acquisition Rumors 'May be Accurate'
Platina Energy Group reports that rumors relative to a major transaction involving the potential acquisition of a substantially larger Company may be accurate. Prior to the annual meeting to be announced in January, management has solicited sufficient votes to authorize BUT NOT ISSUE up to five hundred million common shares to facilitate such a possible transaction should such a motion be presented for vote at the annual meeting.
Blair Merriam, President of Platina, stated, "We have no intention of diluting shareholders by the issuance of additional stock without consideration. We've merely positioned the Company to have the ability to acquire accretive opportunities following completion of due diligence and possible terms. Management's job is to deliver value and proven growth which remains our top priority."
The Company further reports that it is revising the current web presence and will be facilitating investor conference calls starting the first part of 2008 both in English and German.
- Platina Reports Oklahoma Production for Beginning of April (Apr 24)
- Platina Acquires Enhanced Oil Recovery From UTEK Corporation (Apr 04)
- Platina Reports Oil Production of 1500 bbl/Month (Mar 25)