International Sovereign Energy Corp.: Sale of Marwayne Property
Calgary, Alberta CANADA, January 19, 2012 /FSC/ - International Sovereign Energy Corp. (ISR.H - TSX Venture)("ISR" or the "Company") is pleased to announce that it has sold its interest in its Marwyane property for cash proceeds of $1,325,000, with an effective date of December 1, 2011.
Chief Executive Officer, Sharad Mistry stated that "The sale of Marwayne increases the cash reserves of the Company allowing it to continue to explore other investment opportunities which will also bring appropriately qualified management teams. We are currently in preliminary discussions with a number of groups".
For further information, please contact:
Sharad Mistry
Chief Executive Officer
Chief Financial Officer
T: [403] 263 - 2472
F: [403] 264 - 7035
E: smistry@isove.com
Reader Advisories
Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of applicable securities laws relating to the applicable transactions. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements. Completion of the transaction described herein is dependent on a number of factors and it is not certain that the transaction will be completed.
The statements in this news release are made as of the date of this release. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Corporation undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. Factors that could cause actual results to differ materially include, but are not limited to, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with oil and gas operations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
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http://www.usetdas.com/pr/intlsov01192012.htm
Source: International Sovereign Energy Corp. (ISR.H - TSX-V) http://www.isove.com
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