Petro Plus Inc. Acquires Additional Mineral Claims in Saskatchewan
EDMONTON, Alberta--(BUSINESS WIRE)--April 4, 1996--PETRO PLUS INC. (Alberta Stock Exchange: PPV.A ) Petro Plus Inc. has entered into a letter of intent with 3 vendors (Durama Enterprises Limited, RTS Holdings Ltd. and North-Sask Ventures Ltd.) to acquire 54 mineral claims totalling 11,359 hectares in Northern Saskatchewan. The vendors are corporations who are owned in whole or in part by Randy Studer, a director/officer of Petro Plus Inc. or by family members related to Randy Studer. Petro Plus Inc. will acquire 100 percent interest in the claims upon payment of cash, a commitment for exploration expenditures and issuance of securities and a bonus if the properties are sold prior to a specified time.
The letter of intent is subject to execution of formal agreements and approval by the Alberta Stock Exchange. Details of the properties acquired will be available at the corporate head office by fax (403) 421-9711, by phone (403) 421-9711 or by mail at Suite 500 Tower One, Scotia Place, Edmonton, Alberta, T5J 3R8.
The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.
CONTACT: Petro Plus Inc.
Urban Casavant, 306/922-6065
COPYRIGHT 1996 Business Wire COPYRIGHT 2004 Gale Group
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