Attached files
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8-K - FORM 8-K - TRICCAR INC. | d84527e8vk.htm |
EX-10.3 - EX-10.3 - TRICCAR INC. | d84527exv10w3.htm |
EX-10.2 - EX-10.2 - TRICCAR INC. | d84527exv10w2.htm |
EX-10.1 - EX-10.1 - TRICCAR INC. | d84527exv10w1.htm |
EX 99.1
Letterhead
6 Sept. 2011 Dallas, Texas
Tim P. Burroughs, President of TBX Rescources, Inc. (TBXC) today announced an investment
agreement with Lonestar Income and Growth, LLC, a Texas Limited Liability Company, an unrelated
third party. The investment agreement provides that Lonestar will acquire up to 2,750,000 shares
of TBXs 2011 Series A 8% Preferred Stock for the sum of $5,500,000 contingent upon TBX using the
proceeds of the stock purchase to acquire a majority (51%) interest in Frontier Income and Growth,
LLC (Frontier), a salt water transportation and disposal company.
Frontier currently operates 8 permitted disposal wells and 20 disposal tank trucks in a
service area primarily located in east Texas and north eastern Louisiana. Frontiers operational
headquarters is located in Marshall, Texas. Frontiers monthly gross operating revenue for 2011 is
currently averaging $511,000 per month and currently holds an estimated $6,000,000 unaudited value
in assets consisting primarily of the value of the disposal wells, trucks, customer contracts and
its operating office real property.
Mr. Burroughs stated that this transaction is the initial step of our new business plan and
paves the way for TBX Resources to expand our horizons into oil field services for the energy
sector.
In addition TBX entered into two additional agreements today; a subscription agreement between
TBX and Frontier whereby Frontier agreed to sell to TBX 51% of its equity membership interests for
the sum of $5,500,000 and an agreement between TBX and Frontier Asset Management, LLC (FAM)
whereby TBX agreed to acquire certain contract rights held by FAM in the profits of Frontier. In
return for the contract rights TBX issued 4,700,000 shares of its common stock to FAM. At TBXs
current share price of $0.07 the transaction is valued at $284,900.
Forward Looking Statements
Statements contained in this release that are not historical facts are forward-looking
statements that involve risks and uncertainties. Among the important factors which could cause
actual results to differ materially from those in the forward-looking statements include, but are
not limited to, those discussed in Risk Factors in the Companys Forms 10-K, Forms 10-Q, and
other filings with the Securities and Exchange Commission. Such risk factors include, but are not
limited to, a limited operating history with no earnings; reliance on the Companys management
team; the ability to successfully implement the Companys business plan; the ability to continue as
a going concern; the ability to fund the Companys business and acquisition strategy; the growth of
the temporary healthcare professional staffing business; difficulty in managing operations of
acquired businesses; uncertainty in government regulation of the healthcare industry; and limited
trading in the public market for the Companys common stock. The actual results that the Company
achieves may differ materially from any forward-looking statements due to such risks and
uncertainties. We undertake no obligation to revise or update publicly any forward-looking
statements for any reason.
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