Kruger announces execution of Purchase and Sale AgreementJune 17, 2008
Kruger Capital Corp. ("Kruger" or the "Company") announced that further to its news release dated May 2, 2008, the Company has entered into a definitive Purchase and Sale Agreement with Dolar Energy, L.L.C., pursuant to which the Company proposes to acquire from Dolar an undivided 25% interest in certain oil and gas properties located in Sublette County, Wyoming (the "Acquisition"). The closing of the Acquisition is expected to take place on or about August 31, 2008.
The completion of the Acquisition will be a change of business for the Company with a new focus on the international oil and gas industry. Completion of the transaction is subject to a number of conditions, including but not limited to, TSX Venture Exchange acceptance. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the information circular to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
For further information, please call:
Kruger Capital Corp.
Eric Carlson, President
Certain statements in this news release may contain "forward-looking statements" or "forward-looking information" within the meaning of applicable securities legislation. Such forward-looking statements or information include, without limitation, statements or information about the anticipated benefits resulting from the Acquisition, the timing and success of application to obtain approvals required with respect to the Acquisition and the nature of Kruger's business and operations following the completion of the Acquisition. Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or variations of such words and phrases or words and phrases that state or indicate that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. With respect to forward-looking statements and information contained herein, we have made numerous assumptions including among other things, assumptions about our ability to close the Acquisition. Although our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include amongst others the risks and uncertainties involved in satisfying the conditions to close the Acquisition, difficulties associated with the nature of Kruger's business and operations following the Acquisition, including liabilities associated with the Acquisition, and misjudgements in the course of preparing forward-looking statements or information. Should one or more of these risks and uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements and information.
Although we have attempted to identify factors that may cause actual actions, events or results to differ materially from those described in forward-looking statements and information, there may be other factors that cause actual results, performances, achievements or events to not be as anticipated, estimated or intended. Also, many of the factors are beyond our control. As actual results and future events could differ materially from those anticipated in such statements and information, readers should not place undue reliance on forward-looking statements or information. Except as may be required by law, we undertake no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise. All forward-looking statements and information made herein are qualified by this cautionary statement.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The securities offered have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable states securities laws.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.