Petrostar Receives Mineral Rights from Msl Building Company
23.10.2012 | The Newswire
(via Thenewswire.ca)
October 23, 2012, Vancouver, BC - Petrostar Petroleum Corp. (TSX-Venture: PEP; "Petrostar" or "the Company") is pleased to announce that further to its September 27th news release, the Company has completed the transfer of mineral rights to 640 acres in the Forestburg area of Alberta from MSL Building Company Ltd., a private, Alberta-based company.
In consideration for 100% ownership of the mineral rights, Petrostar will issue 333,000 shares to the principles of MSL Building at a deemed price of $0.18 per share. The shares will be subject to a four-month hold period and the transaction subject to regulatory approval.
About Petrostar Petroleum Corp.
Petrostar is a Tier 2 Canadian-based oil and gas exploration company trading on the TSX Venture Exchange. The long-term objective of management is to aggressively seek properties with high potential that can be advanced with minimum expenditures. The policy of the Company is to lower shareholders' risk exposure to various stages of exploration by entering into joint ventures with third parties or acquiring projects that the Company can operate as the sole owner-operator.
For further information, please contact Bruce Scafe, IR and Communications Officer, at 1-877-737-8864 or bscafe@petrostarpetroleum.com.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.
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