TORONTO, Jan. 26, 2005 (PRIMEZONE) -- Sakha Resource Technologies Corporation (Pink Sheets:SKHR) ("Sakha" or "the Company"), a Delaware Corporation, is pleased to announce that its Board of Directors has authorized its acquisition of all of the outstanding common stock of Canary Resources, Inc. ("Canary"), a Nevada private corporation. Canary Resources, Inc. is a coalbed methane (CBM) company which is seeking to develop over 75,000 acres in the Forest City Basin in Kansas and Missouri. The Board of Directors of Sakha Resource Technologies Corporation has also approved the Company's name change to Canary Resources Inc., and has approved the Company's articles of amendment to reflect its new direction. It is expected that the new stock symbol for Canary Resources will be available shortly.
The company also intends to complete and submit a Form 211 to the NASD pursuant to Rule 15c2-11 to NASD Regulation, Inc.'s for consideration whereby the Company's common stock can become quoted on the OTC Bulletin Board.
Canary's CEO, James Beatty commented, "I strongly believe that our agreements for the Forest City Basin will serve as a pivotal point in Canary's long term growth. I look forward to reporting our early successes in the development of our Coalbed Methane properties as we progress throughout 2005."
The Company's OTC.PK trading symbol is "SKHR".
THIS NEWS RELEASE DOES NOT CONSTITUTE ANY OFFER OF ANY SECURITIES FOR SALE.
About Canary Resources Inc.
Canary Resources Inc. was incorporated under the laws of the State of Delaware, for the purpose developing its acreage in Coalbed Methane Gas. Canary Resources Inc. is a coalbed methane company which is developing over 75,000 acres in the Forest City Basin in Kansas and Missouri. Coalbed methane (CBM) is natural gas or methane that occurs in coal beds and has been generated during the conversion of plant material to coal. Although minor differences in geologic conditions alter production methods, coalbed methane is transported, sold, and used in a similar way to natural gas produced from conventional gas and petroleum fields.
NOTE TO EDITORS: If you would like additional information on Canary Resources Inc, please view Canary Resources Inc at our website at www.canaryresources.com. To receive an Investor Kit or additional information for Canary Resources, or to join the company's mailing list, please contact Investor Relations Department at 416-867-8083 or by emailing investors@canaryresources.com .
This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We have tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect our current belief and are based upon currently available information. Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. We undertake no obligation to update or advise in the event of any change, addition or alteration.