G4G Resources Completes Dissolution of Alternative Fuels Corporation
17 Diciembre 2010 - 6:58PM
Marketwired
G4G Resources Ltd. (TSX VENTURE: GXG) ("G4G", "the Company")
announced today that as of December 7, 2010, it has completed the
dissolution of its wholly owned subsidiary, Alternative Fuels
Corporation ("AFC"). AFC has no property to distribute among its
shareholders and there are no proceedings pending in any court
against AFC.
G4G first announced its planned dissolution of Alternative Fuels
Corporation in its 2010 second quarter financial statements and
Management Discussion & Analysis, after AFC had assigned all of
its rights and interests in its Sarnia-Lambton synthetic fuels
project, which was developed by AFC, to AlterNRG Ltd., allowing G4G
to earn a 1% royalty on future electricity sales up to $2,000,000.
G4G made the decision to dissolve AFC to focus on the development
of its iron sands projects.
This dissolution will have minimal impact on G4G's consolidated
financial statements for the year ending December 31, 2010.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and
development company focused on a number of low cost iron ore
projects.
G4G's latest corporate presentation can be viewed at
www.g4gresources.com.
Forward-Looking Statement
This document may contain or refer to forward-looking
information based on current expectations, including, but not
limited to timing of mineral resource estimates, future exploration
or project development programs and the impact on the Company of
these events. Forward-looking information is subject to significant
risks and uncertainties, as actual results may differ materially
from forecasted results. Forward-looking information is provided as
of the date hereof and we assume no responsibility to update or
revise them to reflect new events or circumstances, except as
required under securities laws. For a detailed list of risks and
uncertainties, as it relates to G4G Resources Ltd., please refer to
the Company's 2009 year end audited financial statements filed with
SEDAR on April 30, 2010.
Should you wish to receive Company news via email, please email
ir@g4gresources.com and specify "G4G News" in the subject line.
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.
Contacts: G4G Resources Ltd. Basil Botha President and CEO (604)
602-9868 ir@g4gresources.com www.g4gresources.com
(TSXV:GXG)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
(TSXV:GXG)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024