Diversified Resources Inc. to Acquire Natural Resource Group2013-04-18 00:33:34 (GMT) (Caymanmama.com - Banks & Banking Press Release News)
04/17/2013 (press release: shareagent) // Castle Rock, Colorado, USA // Frank Grey
Diversified Resources Inc. (DDRI- OTCBB) and Natural Resource Group (NRG) have executed a Letter of Intent whereby DDRI will acquire all the outstanding shares of Littleton, Colorado-based Natural Resource Group, Inc. The acquisition is subject to a definitive agreement being finalized between the parties and is expected to close in the next 90 days.
Philip F. Grey, President of DDRI, commented: “We are excited to be combining our two companies in order to leverage each of our areas of expertise. Diversified is a public entity and NRG has a stable of exciting energy projects that we look forward to developing.” Paul Laird, CEO of Natural Resource Group, added “We see this combination solving a number of issues for the shareholders of NRG. As a public entity, we will have access to capital and a visibility that will accrete to our shareholders as we go forward with the development of a number of projects on our table.”
Diversified Resource is an exploration-stage company with previous activities limited to owning a number of mineral leases. Natural Resource Group is a diversified oil and gas production and development group with a number of producing and non-producing leases in the Rocky Mountain Region, including the DJ Basin.
Important Cautions Regarding Forward Looking Statements
This press release may contain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. The use of words such as “believes”, “expects”, “anticipates”, “intends”, “plans”, “estimates”, “should”, “likely” or similar expressions indicate a forward-looking statement. These statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management as well as information currently available to management. The actual results could differ materially from a conclusion, forecast or projection in the forward-looking information. Certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information. The identification in this press release of factors that may affect future performance and the accuracy of forward-looking statements is meant to be illustrative and by no means exhaustive. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: the success of exploration and development efforts; the price of oil and gas; the worldwide economic situation; changes in interest rates or inflation; the ability to raise capital, as it may be affected by current conditions in the stock market and competition in the oil and gas industry for risk capital; and environmental and other regulations, as the same presently exist or may later be amended.
Frank Grey Paul Laird
Diversified Resources Inc. Natural Resource Group Inc.
2114 Ridge Plaza Drive 1789 W. Littleton Blvd
Castle Rock, CO 80108 Littleton, CO 80120
(951) 255-9100 (303) 797-5417
Social Media Tags:DDRI, Diversified Resource Inc, NRG, mineral, natural resources
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