Hillcrest Petroleum Ltd. Signs Merchant Banking Agreement
VANCOUVER - Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") is pleased to announce that the Company has signed a Merchant Banking agreement with WC Capital Inc, an Ontario based organization. WC Capital Inc is an affiliate of Wade & Company, a private family office investment firm and merchant bank, managed by a successful team of investors and entrepreneurs with a breadth of experience across different sectors. WC Capital Inc and Wade & Company specialize in various lending products, direct investment and advisory services. WC Capital Inc, through their network, will provide assistance in identifying potential business dealings and partners, early stage legal review of all potential business dealings, potential direct or indirect investment in any deals under review or acquired and will assist in expanding the profile of Hillcrest within the circle of their investment community. The agreement between Hillcrest and WC Capital Inc is for a term of 1 year with potential renewals available. The agreement is subject to acceptance of the TSX Venture Exchange.
"This agreement represents a giant step forward for Hillcrest as we search for and review transformational deals for the Company." Don Currie, Hillcrest Petroleum CEO, states: "WC Capital together with Wade & Company provide Hillcrest with financial advisory services, early stage legal review and assistance as well as potential investment strength, which are all critical needs for junior listed companies in early stage negotiations. With a number of acquisition targets under review, the support and services provided by WC Capital Inc is expected to give Hillcrest an increased ability to quickly assess and potentially acquire assets. The Company will update its shareholders as we progress towards any potential purchases or joint ventures."
For more information on Hillcrest Petroleum Ltd., contact Don Currie toll free at 1-855-609-0006 or visit the Company's website at www.hillcrestpetroleum.com
ON BEHALF OF THE BOARD
Donald Currie
Chief Executive Officer and Director
Cautionary Statement Regarding "Forward-Looking" Information
Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
Neither TSX Venture Exchange nor its Regulations 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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