CALGARY, Jan. 31 /CNW/ - Tudor Corporation (TSX: TDR) ("Tudor") wishes to provide an update on matters since its press release
December 29, 2010. In discussions with the TSX Venture Exchange ("TSXV"), it has been determined that until the proposed transaction is
completed with Marzcorp Oil & Gas Inc. ("Marzcorp"), or Tudor completes a financing of its own, Tudor needs to apply to
the NEX Board of the TSX Venture Stock Exchange ("NEX"). The application has been made and Tudor is anticipating it will
trade under the symbol "TDR.H" on NEX effective February 8, 2011. NEX
is a separate trading board of the TSX Venture Exchange. There is no
change in Tudor's name and no change in its CUSIP number. Accordingly,
the delisting of Tudor from the Toronto Stock Exchange has been
postponed from January 31, 2011, until February 7, 2011, in order to
allow for an orderly transition to NEX.
In addition, further to a previous statement in the December 29 press
release that stated almost 100% of Tudor's production is derived from
natural gas, Tudor wishes to clarify that it currently has production
from 5 oil wells in Canada, as well as 9 oil wells in the United
Matters are still outstanding with an application for conditional
approval to list the shares of the combined company of Marzcorp and
Tudor on TSXV. The closing of the amalgamation is subject to, among
other things, completion of the private placement being conducted by
Marzcorp and subject to receipt of stock exchange approval.
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
THIS PRESS RELEASE DOES NOT CONSTITUE AN OFFER TO SELL SECURITIES OR A
SOLICITATION FOR PURCHASERS TO BUY SECURITIES. THIS PRESS RELEASE IS
NOT TO BE CONSTRUED AS A PUBLIC OFFERING IN ANY PROVINCE IN CANADA
UNLESS A PROSPECTUS RELATING THERETO HAS BEEN ACCEPTED FOR FILING BY A
SECURITIES COMMISSION OR SIMILAR AUTHORITY IN SUCH PROVINCE.
Investors are cautioned that this news release contains forward looking
information concerning the timing and completion of the transaction
with Marzcorp and the completion of the Marzcorp financing. There is a
risk that the Marzcorp financing will not be completed and therefore
the combination with Marzcorp would not be completed. Readers are
cautioned not to place undue reliance on forward-looking information,
as no assurances can be given as to the completion of the proposed
transaction with Marzcorp, the Marzcorp financing or other matters
addressed in this news release.
SOURCE Tudor Corporation Ltd.
For further information:
President and Director
Phone (403) 250-7225