Petrostar Petroleum Corporation (“Petrostar” or “the Company”) wishes to announce that the Board of Directors proposes to change the name of the Corporation to “Cerus Energy Group Ltd.” or such other similar name as the Board, in its sole discretion, deems appropriate.
The Board agrees that a name change would be both appropriate and in the best interest of the company and its share holders, as it aligns and best represents the company and its operating subsidiaries' future business objectives.
A formal name change will be filed with the TSX Venture Exchange and the Company will seek shareholder approval at the Company’s upcoming AGM.
Petrostar CEO R. Mackenzie Loree stated:
“Petrostar has been working on an intricate plan to transform the company into a viable entity through strategically aligned business interests and activities. The proposed name change will mark the launch of the Company’s new corporate business strategy, that consists of a series of low risk - high yield projects in the North American energy market.
Despite the current market conditions and energy landscape, we have identified a clear path to create immediate and long-term success for the company and its shareholders."
For further information regarding Camarico, see the Company's profile on SEDAR at www.sedar.com.
Anthony Chan, CEO & CFO
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
Certain information in this news release is forward-looking within the meaning of certain securities laws, and is subject to important
risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the
Company’s beliefs, plans, expectations, anticipations, estimates and intentions. The words “may”, “could”, “should”, “would”,
“suspect”, “outlook”, “believe”, “anticipate”, “estimate”, “expect”, “intend”, “plan”, “target” and similar words and expressions are used
to identify forward-looking information. The forward-looking information in this news release describes the Company’s expectations
as of the date of this news release. The results or events anticipated or predicted in such forward-looking information may differ
materially from actual results or events. Material factors which could cause actual results or events to differ materially from a
conclusion, forecast or projection in such forward-looking information include, among others, risks arising from general economic
conditions and adverse industry events.
When relying on forward-looking information to make decisions, investors and others should carefully consider the foregoing factors
and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous
paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these
factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual
outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF
THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH
DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT
RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT
UNDERTAKE TO UPDATE THIS INFORMATION ON AT ANY PARTICULAR TIME.