Attached files
| file | filename |
|---|---|
| 8-K - MONGOLIA HOLDINGS, INC. | cnsv_8k.htm |
| EX-99.2 - MONGOLIA HOLDINGS, INC. | cnsv_ex99-2.htm |
EXHIBIT
99.1
CNSV
SIGNS LETTER OF INTENT TO ACQUIRE AN INTEREST IN FIFTEEN OIL AND GAS WELLS IN
KENTUCKY IN AN ALL STOCK TRANSACTION
March 3,
2010
Henderson,
NV, /Consolidation Services, Inc. (“CNSV”) (OTCBB:CNSV), announced today that
CNSV has signed a Letter of Intent (“LOI”) to acquire an interest in fifteen oil
wells located in Kentucky in an all stock transaction. The Parties to the LOI
are scheduled to sign a Definitive Purchase Agreement (“Agreement”) or before
March 8, 2010 and close the transaction on or before March 29, 2010; subject to,
among other things, completion of due diligence and negotiating the Agreement.
Additional details will be available once the legal, accounting and audit
personnel advise on the transaction and the Agreement is signed.
Dr.
Thomas, CEO said “this acquisition, when completed, is expected to be the first
of several income producing acquisitions, as management focuses on the
acquisition of assets using CNSV common stock.” The pending
acquisition is consistent with CNSV’s strategy to “grow shareholder value
through the acquisition of oil and gas reserves and income producing
properties.” As previously announced, CNSV’s coal assets and
liabilities owned as of January 1, 2010, have been spun-off to CNSV’s
shareholders of record as of January 31, 2010.
About
Consolidation Services, Inc.
CNSV is
engaged in the acquisition and development of oil and gas mineral rights in
eastern Kentucky. The Company owns oil and gas rights on approximately 12,000
acres in eastern Kentucky.
Forward
Looking Statement
This
press release contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, Section 21E of the Securities
Exchange Act of 1934, as amended, and under the ’safe harbor’
provisions of the Private Securities Litigation Reform Act of 1995. All
statements other than statements of historical facts included in this press
release are forward-looking statements. Without limiting the
foregoing, the words “believe,” “anticipate,” “plan,” “expect,” “seek,”
“potential”, “estimate” and similar expressions are intended to identify
forward-looking statements. These statements relate to future events
or to the Company’s future financial performance, and involve known and unknown
risks, uncertainties and other factors that may cause our actual results, levels
of activity, performance or achievements to be materially different from any
future results, levels of activity, performance or achievements expressed or
implied by these forward-looking statements. Investors should not place any
undue reliance on forward-looking statements since they involve known and
unknown uncertainties and other factors which are, in some cases, beyond the
Company’s control which could, and likely will, materially affect actual
results, levels of activity, performance or achievements.
Any
forward-looking statement reflects the Company’s current views with respect to
future events and is subject to these and other risks, uncertainties and
assumptions relating to operations, results of operations, growth strategy and
liquidity. Such risks, uncertainties and other factors which could
impact the Company and the forward-looking statements contained herein are
included in the Company’s filings with the Securities and Exchange
Commission. The Company assumes no obligation to publicly update or
revise these forward-looking statements for any reason, or to update the reasons
actual results could differ materially from those anticipated in these
forward-looking statements, even if new information becomes available in the
future.
COMPANY
CONTACT:
John C. Francis
Vice President/CFO
info@consolidationservicesinc.com
702.630.2345