CALGARY, Feb. 6 /CNW/ - Piper Resources Ltd. ("Piper" or the "Company")
announces that it has retained Tristone Capital Inc. as its financial advisor
to pursue strategic alternatives for the Company. Strategic alternatives may
include the sale, merger or takeover of the Company or restructuring or
reorganization or sale of some or all the Company's properties, or any other
alternatives that are considered to be in the best interest of Piper's
The Company received notice on February 5, 2008, from Matco Capital Ltd.
("Matco") demanding payment of amounts owed to Matco by the end of business on
February 15, 2008. Matco holds a $45 Million secured credit facility and a
$5.85 Million demand convertible debenture plus accrued interest. The Company
is reviewing its options with respect to the demand notice to ensure it can
pursue its strategic alternatives.
About Piper Resources Ltd.
Piper is a non-listed exploration, development and production company
pursuing conventional oil and natural gas opportunities in western Canada. The
Company's core areas are focused in the Peace River arch area of northwestern
Alberta, with operated production in the Gordondale, Pouce Coupe and Sinclair
areas. The Company is based in Calgary, Alberta.
For further information:
For further information: Piper Resources Ltd., Greg Cave, President,
Tel: (403) 718-2301