SAN ANTONIO, TX, July 15, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Texas Oil and Minerals, Inc. (OTC Pink: TOMI) has announced that it has completed a merger with Golden Triangle Enterprises, Inc. (“GTV”), and has mutually terminated the former Joint Venture agreement that was announced on May 7th, 2019. The company will be known as Golden Triangle Ventures going forward and management will soon be filing for a name change and symbol change to better reflect the new business. In addition, Jack Thompson will be resigning from Golden Triangle Ventures and Steffan Dalsgaard will become the new CEO and Chairman of the Board. With this change in management, Steffan Dalsgaard will now be acquiring the controlling interest of Texas Oil & Minerals, Inc. from the former CEO and Founder of Texas Oil & Minerals, Inc., Tom Gouger.
Golden Triangle Ventures, Inc. is a multifaceted consulting company pursuing ventures in the Health, Entertainment and Technology sectors. The Company aims to purchase, acquire and/or joint venture with entities within these areas of business. The Health division will focus on CBD which is one of the fastest growing industries in America. The Entertainment division will focus on concert and event organization and the Technology division will focus on several advanced innovations the company has identified. The goods and services represented are driven by pioneers who have a passion and commitment to these marketplaces. The Company plans to utilize its existing relationships to create a platform for new and developed businesses to strengthen their products and/or services. The three points of the Golden Triangle exclusively represent the three sectors this company aims to do business.
Mr. Dalsgaard has a background in public relations and business development with over a decade of experience representing and consulting with dozens of private and public companies while managing several field offices across the country. Mr. Dalsgaard consults with companies on all of their corporate objectives while providing a professional and corporate face to their organization. Steffan Dalsgaard has built a strong reputation in the public relations industry and plans to bring all of his current business endeavors into Golden Triangle Ventures. Mr. Dalsgaard has a mission to work with emerging growth companies that are positioned to become significant businesses in their respective fields. By providing quality representation and strategic consulting catered to each client’s individual needs, the services Mr. Dalsgaard provides are highly valued and imperative to many different corporate successes.
Mr. Dalsgaard, CEO of GTV, states, “I am absolutely honored to take the position of CEO and Chairman of the Board in Golden Triangle Ventures. We have built such an amazing team of people inside of our Company and I have personally been working since 2015 to accomplish this massive plan of ours. Our vision is to build a globally recognized company while focusing on our commitment to build shareholder value for everyone involved. Because of this commitment, our board has voted on and approved an Authorized Share (A/S) reduction of 2 billion shares, leaving the A/S at 500 million. The board also voted on and approved an Outstanding Share (O/S) reduction of 100 million shares, leaving the O/S at only 21.44 million shares. We are planning many more exciting things and we will be rolling out everything we have worked so hard to achieve in the months ahead. I am fully prepared and ready to build this Company into a world class organization for everyone involved.”
Mr. Dalsgaard continues to state, “We will now proceed to change the name of the Company to Golden Triangle Ventures and obtain a new symbol to better reflect the new business operations. We are also working to disclose the goals and milestones that our Company plans to achieve over the coming year. We are in the process of finalizing our first acquisition and we are very excited to release all of the details on this endeavor as soon as possible.”
Stuart Seim, CEO of Texas Oil & Minerals, Inc., stated, “We are pleased to merge with Golden Triangle Enterprises and I look forward to enhancing the Company’s ability to grow and develop its business in the years ahead.”
Forward-Looking Information
This news release may include "forward-looking statements" including forecasts, estimates, expectations, and objectives for future operations including but not limited to its ability to conclude a business combination with a third party, sale of assets, return of capital or initial public offering and a secondary listing on the OTC as a result of aforementioned and its ability to fund the exploration of its assets through the raising of equity or debt capital or through funding by a joint venture partner that are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of Texas Oil & Minerals, Inc. including but not limited to capital markets and securities risks and continued development success on technology. There can be and are no actual or implied guarantees that any of the above activities will be completed or completed on terms acceptable to the Company and its shareholders or approved by any regulatory authority having jurisdiction. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Texas Oil & Minerals, Inc. does not assume the obligation to update any forward-looking statement, except as required by applicable law.