/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
KELOWNA, BC, Oct. 31, 2016 /CNW/ - Georox Resources Inc. ("Georox" or the "Corporation") (GXR:TSX-V; OF6A:FRA) has joined the 8020 Connect Inc. network and invites all its shareholders to become members with it. 8020 Connect is the investment industry's newest social network, developed to deliver corporate information to shareholders, investment industry experts and like-minded investors, while enabling these member groups to interact with one another and with the Corporation's management team.
The Corporation's commitment to shareholders is to always deliver accurate, timely and transparent information about its goals and achievements. Through this platform, it can communicate its corporate message and update its project advancements and financial information to all shareholders and investors. The 8020 Connect social media component provides the Corporation direct interaction with its shareholders, allowing the Corporation to answer your questions and inquiries directly or in group forums.
The 8020 Connect network will also allow the Corporation to expand its audience exponentially to interested investors and industry experts worldwide. You can help by informing and educating other like-minded investors about the company.
Recently 8020 Connect announced an agreement with the TSX Inc (TSX) and the TSX Venture Exchange Inc. (TSX.V) regarding a new TSX initiative called "TSX investinit".
TSX instinit is a new mobile app and website that tracks and aggregates publicly available TSX and TSX-V listed company financing transactions. The app was created to increase public awareness of current financings available on the Exchanges, by providing an additional, cost free presentation of this information beyond public company filings. Investors can navigate TSX investinit by accessing menu options including Private Placements, Public Offerings, Flow-Through Financings, and Debt Financings.
The Corporation currently produces approximately 140 boepd of which 75% is light oil, 24% is heavy oil and 1% is gas.
Production volumes are commonly expressed on a barrel of oil equivalent ("BOE") basis whereby natural gas volumes are converted at a ratio of six thousand cubic feet to one barrel of oil. The intention is to convert oil and natural gas measurement units into one basis for improved analysis of results and comparisons with other industry participants. The term BOE may be misleading, particularly if used in isolation. The conversion ratio is based on an energy equivalent method and does not represent an economic value equivalency at the wellhead.
This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. More particularly, it contains forward-looking statements concerning the use of proceeds from the Private Placement.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Units in the United States. The Units (or constituent securities) have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Georox Resources Inc.
For further information: Burkhard Franz, President and Chief Executive Officer, Tel: (403) 457-9010, Fax: (403) 265-7424, Website: www.georoxresources.com