Homeland Resources Ltd. (OTCQB: HMLA), announces that it has initiated a process to review the Company's existing business plan and to identify, examine and consider all strategies available to the company, both near and long term, in order to prudently determine the optimal course of action for the Company.
The nominal success Homeland and its partners have realized through participation in the drilling program at Liberty Ridge Oil and Gas Project has prompted this review. At this time the Company has not identified a new direction, and no specific potential transactions are in place, nor is there any assurance that a new project and or financing arrangement will be concluded in the future. Management intends to evaluate potential opportunities and new projects in a variety of sectors in order to determine if the Company and its existing shareholders will be best served by adopting a new business model.
In the interim, management will continue to evaluate all transactions, opportunities, and activities with respect to its existing oil and gas assets and commitments.
For more information about Homeland Resources including their oil and gas projects, visit www.homelandresources.com. Stay current on all available information regarding Homeland and the energy sector by connecting with them on their social platforms:
About Homeland Resources
Homeland Resources Ltd. (OTCQB: HMLA) is a performance-driven exploration and production company focused on developing relatively low-risk North American natural gas reserves. Homeland's current focus is on the continued exploration and development of their property portfolio comprised of working interests in the Smoky Hill Project (5% interest) and the Liberty Ridge Project (5% interest) in Oklahoma. Homeland Resources is also seeking to expand their portfolio to include additional interests in North America.
For more information on HMLA, please visit www.homelandresources.com.
Notice Regarding Forward-Looking Statements: Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. The Company has no official gas or oil reserves at this time and may not have sufficient funding to thoroughly explore, drill or develop its properties. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
For further information please contact:
Homeland Resources Investor Relations
Homeland Corporate: www.homelandresources.com
Toll-free: (877) 503-4299
SOURCE: Homeland Resources Ltd.