The recent volume on this probably due to this previous news. Settlement on this deal is stated to be by March 15th or sooner.
Barnabus Signs Letter of Intent
CALGARY, Alberta--(BUSINESS WIRE)--Dec. 17, 2004--Barnabus Enterprises Ltd. (OTCBB:BBSE) is pleased to announce that on Dec. 16, 2004, it entered into a non-binding Letter of Intent with MB Gas, Inc., Goldstar Gas Corporation, and other parties, to acquire a 90% interest in Goldstar Gas Corp.'s Manyberries Gas Project in Southern Alberta. The Letter of Intent provides that MB Gas, Inc., a Goldstar Gas Corp. shareholder, will remain as the operator and assist in the project's business development.
The Letter of Intent is subject to due diligence by the parties. Should a definitive agreement be completed, the proposed closing date of the transaction is on or before March 15, 2005.
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in Barnabus Enterprises, Ltd ("the Company") business plan and in this press release. The Company's business is subject to various risks, which are discussed in the Company's filings with the Securities and Exchange Commission ("SEC"). The Company's filings may be accessed at the SEC's Edgar system at www.sec.gov. The non-binding Letter of Intent described above should not be construed by any means as an indication of the value of the Company or its common stock. Additionally, because the Letter of Intent does not create a binding or enforceable obligation regarding any of the matters in the Letter of Intent, there is no assurance that an agreement to acquire a 90% interest in Goldstar Gas Corp.'s Manyberries Gas Project will ever be completed. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such a statement.
CONTACT: Barnabus Enterprises Ltd.Kerry Nagy, 604-340-1245 email@example.com
SOURCE: Barnabus Enterprises Ltd.
-------------------- Growing old is mandatory!......... Growing up is optional! Posts: 527 | From: Pennsylvania | Registered: Apr 2004
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