TORONTO, Sept. 6 /CNW/ - Nick Tsimidis, CEO and a director of DVD
Investments Limited (TSX Venture Exchange (NEX): DVD.H) ("DVD") is pleased to
provide this Press Release to its shareholders and members of the public to
update shareholders and others with respect to its proposed reverse take-over
transaction (the "Transaction") with Mooncor Energy Inc. ("Mooncor"), a
private oil and gas company, which was originally announced on November 21,
Other than the addition of "flow-through" units to the concurrent private
placement financing (the "Financing"), previously announced on July 18, 2007,
the material terms of the Transaction as detailed in DVD's Filing Statement,
remain unchanged. DVD and Mooncor have been securing financing pursuant to the
Financing and intend to close the Transaction and Financing later this month.
The Filing Statement is the disclosure document that outlines the details
of the Transaction, the Financing, information about DVD and information about
the target company, Mooncor, and its business, including financial statements
of DVD, Mooncor and pro forma financial statements. Readers of this release
are encouraged to review the information in the Filing Statement.
The net proceeds of the Financing will be employed by DVD (i) to fund
Mooncor's drilling program at each of its Woodbend, Lonestar, Crossfield
projects in Alberta and Mooncor's Whitehill Lakes and Foam Lake projects in
Saskatchewan, (ii) to acquire additional lands in new project areas, and (iii)
for general operating expenses.
Mooncor is a junior oil and gas exploration and production company based
in Calgary. Mooncor plans to specialize in the exploration and development of
unconventional gas projects most particularly in the Colorado shales in
western Canada. Mooncor also has a CBM project in Alberta and two conventional
oil and gas projects in Alberta. Mooncor has drilled 9 wells to date and
Mooncor's assets consist of rights to earn working interests in Mooncor's five
separate properties consisting of 263,511 gross acres (126,625 net acres) of
petroleum and natural gas Crownleases in Alberta and Saskatchewan.
Completion of the Transaction remains conditional on obtaining all
necessary regulatory approvals, including the approval of the TSX Venture
Exchange, and other conditions which are typical for a business combination
transaction of this type. There can be no assurance that the transaction will
be completed as proposed or at all.
The information in this press release related to Mooncor was provided to
DVD by Mooncor.
Investors are cautioned that, except as disclosed in the management
information circular or filing statement to be prepared in connection with the
transaction, any information released or received with respect to the
transaction may not be accurate or complete and should not be relied upon.
Trading in the securities of a capital pool company should be considered
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: Nick Tsimidis, Chief Executive Officer, Tel: