Business & Finance
Business and Finance
Business and Finance
Wed, September 22, 2010
Tue, September 21, 2010 USD Energy Corp. Agrees to Acquire Santa Teresa Minerales
SAN DIEGO--([ BUSINESS WIRE ])--USD ENERGY CORP. (OTCBB:UEGY), announced today that the company has signed a letter of intent with Santa Teresa Minerales of Chile to acquire 100% of their outstanding shares in an all stock transaction. The closing of this transaction is subject to the completion of a definitive agreement, and satisfaction of the agreementa™s conditions, and is expected to occur in late September or in early October.
"We are pleased to reach an agreement to acquire Santa Teresa Minerales. We are very excited about the business opportunities this acquisition presents"
Santa Teresa Minerales engages in the acquisition, exploration, development, and operation of precious metal properties in South America. Ita™s gold and copper mining operations are based in Santiago, Chile. Santa Teresa currently owns mining rights in four exploration projects: Casuto, Los Azules, Tauro Cinco and Los Chipi. Mineral exploration in theses four projects include gold, copper and copper sulfate.
aWe are pleased to reach an agreement to acquire Santa Teresa Minerales. We are very excited about the business opportunities this acquisition presents,a said Trisha Malone, Chief Executive Officer of USD Energy.
FORWARD LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: whether USD Energy Corp. can successfully execute its operating plan; its ability to integrate acquired companies and technology; its ability to retain key employees; its ability to successfully combine product offerings and customer acceptance of combined products; general market conditions; and whether USD Energy Corp. can successfully develop new products and the degree to which these gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. USD Energy Corp. does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
