Kabe Exploration Inc. Letter to Shareholders Regarding Tender Offer
Kabe Exploration Inc. Letter to Shareholders Regarding Tender Offer
SAN DIEGO--(BUSINESS WIRE)-- Kabe Exploration (KABX: OTC BB) announced a tender offer from International Equity Partners Oil & Gas to acquire 100% of Kabe Exploration common shares in a 2-for-1 share exchange based upon a share valuation of .11700 EU per International Equity Partners shares which are Canadian Depository Receipts (CDS) currently offered at 2,50 EU per share in the European private placement market. Our management team had a discussion with International Equity Partners Oil & Gas about the proposed transition if the board was to adopt the measure to put the transaction to proxy for a full shareholder vote. The indication was that Kabe Exploration management team would be retained as an integral part of the vision plan for Kabe. We have until July 28th to hold a board meeting and decide whether to accept the tender offer and put the matter to the shareholders for proxy vote. The transaction would in essence be a merger and is expected to strengthen the balance sheet of Kabe, thereby increasing shareholder value. Our management team hopes to develop a great independent oil and gas concern. Our board will recommend what it think is the right course of action for our shareholders and the ultimate vision management has for Kabe. Then the matter will be put to a shareholder vote. "The investment community continues to recognize the hidden value in Kabe," said Erik Ulsteen, CEO.
About Kabe Exploration Inc.
Based in San Diego, California, Kabe Exploration Inc. is an oil & gas exploration and development company that acquires mineral rights in prolific shale plays for production.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that involve a number of risks and uncertainties. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "believes," "expects," "may," "will," "intends, "plans," "should," "seeks," "pro forma," "anticipates," "estimates," "continues," or other variations thereof (including their use in the negative), or by discussions of strategies, plans or intentions. A number of factors could cause results to differ materially from those anticipated by such forward-looking statements, including those discussed under "Risk Factors" and "Our Business." Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons.
Media Relations:
Kabe Exploration Inc.
Erik Ulsteen, 858-699-1359
info@kabeexploration.com
www.kabeexploration.com
KEYWORDS: United States North America California
INDUSTRY KEYWORDS:
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