NEWS RELEASE | Wednesday, January 11th, 2017
Nanton, AB/January 2017 — The Directors and Management of Cerus Energy Group Ltd ("Cerus" or "the Company") wish to provide the following corporate and operational updates for Cerus and its operating subsidiaries.
Cerus Energy Group is focused on the continued development of the Companies DFP (“Development Finance Platform”). Cerus anticipates the formal launch and utilization of the DFP for Q1 2017. For further information on the Company’s DFP, please refer to www.cerusenergy.com under the heading of Finance Model.
Update on plans and activities of Cerus subsidiaries
TexAlta Industries Ltd intends to utilize the DFP through Cerus to initiate oil and gas production. The Company will be assessing development targets and opportunities on an ongoing basis. Once a competent development package is assembled, the company will formally submit its funding request to Cerus management for brokerage or approval under the Development Finance Platform.
Lomac Canada Ltd plans to revise its business model to reflect the objectives of Cerus and to mitigate operational losses. Further information will be released as the company reaches specifically targeted goals for a successful winddown and relaunch.
Maverick Northstar has suspended operations due to the current operational focus of Cerus and lack of capital resources. The company will review its operational goals on an ongoing basis.
Cerus will be diligently working towards the following milestones for January 2017:
The completion of select corporate goals and milestones may remain subject to the receipt of necessary regulatory approvals, including the approval of the TSXV.
About Cerus Energy Group
Cerus Energy Group is a Tier 2 Canadian-based oil and gas exploration company trading on the TSX Venture Exchange with property assets in both Alberta and Saskatchewan.
About Cerus Energy Group's Subsidiary Companies
Texalta Industries Ltd. and Lomac Canada Ltd. are wholly owned subsidiary company's serving various sectors of the oil and gas industry in the Province of Alberta. Maverick Northstar is a private joint venture company between Petrostar Petroleum Corp. of Alberta, Canada and Maverick Synfuels Inc of North Carolina, USA. Maverick Northstar is a chemical processing company focused on improving the value of methane through the production and utilization of methanol in Western Canada located in the province of Alberta. Petrostar holds 60% ownership of Maverick Northstar shares. For further information, please contact:
Mackenzie Loree, CEO
Neither the TSX Venture Exchange 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.
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.