2009-03-31-2009-03-30

Transaction Type
Announce Date
Post Date
Estimated Price
$30.0MM
Description

To acquire company, gaining interests in TX, GOM, Canada, Egypt & Romania.

Texada Ventures Inc., Spokane Valley, Wash., (OTCBB: TXVN) plans to acquire privately held, Lakewood, Colo.-based Royalty Exploration LLC for an undisclosed price. Royalty Exploration has oil and gas royalty interests in properties the Gulf of Mexico, Texas, and various international locations such as Canada, Egypt and Romania. The company also has base and precious metal-mining operations. Texada chief executive Ted Sharp says, "We are very pleased to be much closer to finalizing our intended business combination with REX. They have a very exciting technology and business plan that is being readily adopted by the oil and gas and mining sectors." Royalty Exploration president and CEO Mark Arnold says, "Our team is really excited to leverage the capital-raising abilities of a public company to further our business in both the short and long term."