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Turner Raises Guidance On Bitumen Shipping Acquisitions; Plans Expansion for Expected Infrastructure Boom
Turner Raises Guidance On Bitumen Shipping Acquisitions; Plans Expansion for Expected Infrastructure Boom.
About this update from Turner Valley Oil & Gas, Inc.
[{"type":"text","content":"\n\n\n\nTurner Raises Guidance On Bitumen Shipping Acquisitions; Plans Expansion for Expected Infrastructure Boom\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nTurner Raises Guidance On Bitumen Shipping Acquisitions; Plans Expansion for Expected Infrastructure Boom\nInitial Bitumen Tanker Acquisitions are Projected to Generate $39,000,000 in Annual Revenue and $6,000,000 EBITDA.\nPR Newswire\nHOUSTON, June 8, 2017\n\n\n\nHOUSTON, June 8, 2017 /PRNewswire/ -- Turner Valley Oil and Gas, Inc. (the \"Company\") (OTC: TVOG), pending name change to Turner Venture Group, Inc., has announced updated guidance estimates for its pending Bitumen Tanker asset acquisitions. The Company is currently progressing on schedule to complete the final due diligence and financing required for Closing.\n\n\n \n \n\n \nBased on increasing market demand, improved utilization, more complete fleet analysis, due diligence, and expectations to fully operate the fleet of five (5) Bitumen tanker vessels once acquired, the Company believes that it will generate over $39,000,000 in annual revenue and $6,000,000 in EBITDA. This estimate represents a significant increase from the Company's initial guidance.  This does not take into account the planned expansion of the fleet and infrastructure, which will be discussed in detail in a future press release.  \n\nThe Trump administration has pointed to a plan, using a mix of public and private funding along with tax incentives, that is meant to help spur $1 trillion in new spending on roads, bridges, and other construction during the next decade.  Many fortune 500 companies such as John Deere and Martin Marietta are already spending $Billions ramping up production in anticipation of this. Turner is in the process of doing the same with this first acquisition, and upon a successful closing, the Company will be well positioned to leverage President Trump's widely publicized infrastructure proposal.\n\nAdam Pashok, Managing Director of Network 1 Securities, Inc., reported \"We are excited to complete these transactions using Turner as the fou...