Business
Southern Its International, Inc. Subsidiary, Pure Oil & Gas, Inc., Completes Funding for First Oil & Gas Venture
Southern Its International, Inc. Subsidiary, Pure Oil & Gas, Inc., Completes Funding for First Oil & Gas Venture.
About this update from Southern Its International Inc.
[{"type":"text","content":"PALM DESERT, CA / ACCESSWIRE / March 21, 2023 / Southern ITS International, Inc. (OTC PINK:SITS) announced today that its subsidiary, Pure Oil & Gas, Inc. (Pure), has now raised all of the funds required for the drilling and completion of its first oil & gas project. The funds were raised by a newly formed limited partnership of which Pure is the General Partner.Jeremy Larsen, President of Pure Oil & Gas, Inc., stated, "We are pleased to have been able to complete this fund raise so quickly and we expect that our driller-operator, ICS Energy, Inc. will commence drilling operations on our first well located in Eastland County, Texas within the next 45 days."About Southern ITS International, Inc.Southern ITS International, Inc., through its subsidiary companies, currently has operations focused on a wide variety of fields, including oil and gas exploration and development, clothing, and e-commerce fulfillment. We intend to expand upon our current base of operational companies and to increase our ownership and/or control of a portfolio of highly successful businesses. As a holding company, Southern ITS International continues to be in the market to acquire a stake in various companies both public and private which will complement its current operations. It will also focus on building a direct sales network of various e-commerce internet applications, manufacturing, and internet sales of various products. We have put in place an experienced management team that is continuing to build a diverse portfolio, buying entire companies, or interests therein, involved in technology, oil and gas, manufacturing, real estate, and other sectors, which will then become operating subsidiaries of Southern ITS International.Precautionary and Forward-Looking Statement This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," &qu...