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Georox announces closing of sale of Gift Lake assets
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About this update from Prospera Energy Inc.
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n THE UNITED STATES/\n\n\nKELOWNA, BC, Jan. 24, 2013 /CNW/ - Georox Resources Inc. (\"Georox\" or\n the \"Company\") announces closing of the previously announced\n transaction (November 30, 2012 press release) for the sale of its oil\n and gas interests located in the Gift Lake, Alberta to Yorkton Ventures\n Inc. (\"YVI\") for $750,000, comprised of cash consideration of $700,000\n and 500,000 common shares of YVI at a deemed price of $0.10 per common\n share. YVI is a capital pool corporation listed on the TSX Venture\n Exchange.\n\n\nThe Gift Lake assets include interests in 3 light oil wells, producing\n approximately 33 barrels per day of light oil net to the Company.\n\n\n\"The sale of the Gift Lake assets provides capital to fund future\n exploration and development programs on the Company's other properties\n and for other potential acquisitions.\" commented Burkhard Franz, CEO.\n\n\nCautionary Statement\n\n\nThe TSX Venture Exchange Inc. has in no way passed upon the merits of\n the proposed transaction and has neither approved nor disapproved the\n contents of this press release.\n\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider\n (as that term is defined in the policies of the TSX Venture Exchange)\n accepts responsibility for the adequacy or accuracy of this release\n\n\nForward Looking Statement\n\n\nThis release contains forward looking statements.  The words \"believe,\"\n \"expect,\" \"feel,\" \"plan,\" \"anticipate,\" \"project,\" \"could,\" \"should\"\n and other similar expressions generally identify forward-looking\n statements.  Readers are cautioned not to place undue reliance on these\n forward-looking statements.  These forward-looking statements are\n subject to a number of risks and uncertainties including, without\n limitation, variations in estimated costs, the failure to discover or\n recover economic volumes of oil and gas, and the inability to raise the\n funds necessary, changes in external market factors including commodity\n prices, and other risks and uncertainties.  Actual results could differ\n materially from the results referred to in the forward-looking\n statements.\n\n\n\n\nSOURCE: Georox Resources Inc.\n\n\n Burkhard Franz, President and Chief Executive Offic...