SOURCE: Homeland Resources Ltd.

Homeland Resources Ltd - Update

Homeland Resources Ltd. (OTCQB: HMLA) The directors of Homeland Resources Ltd. (the “Company”) issued the following update today.  The directors have been working diligently to revitalize the Company since their appointment on July 29, 2014.  In that regard, offers to settle approximately $1,070,000 of outstanding indebtedness as announced in the Company’s Form 8-K dated August 1, 2014 have been sent out to creditors and early indications from creditors indicate the Company can expect close to 100% acceptance.  The directors are reviewing other indebtedness of the Company and will seek to make arrangements to settle the same.

 

The directors are considering a share consolidation but the consolidation ratio and date have not yet been determined.

 

The directors are considering changing the focus of the Company from oil and gas to high technology and are seeking opportunities in the high technology area.  No agreement has been reached to date and there is no assurance that the directors will be successful in identifying and acquiring any opportunity.

 

Forward-Looking Statements:

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations.  They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control.  Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. In particular, there is no assurance that the debt settlement will be completed as anticipated or that the Company will be able to identify or acquire a high tech asset.  Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information. No stock exchange, securities commission or other regulatory body has reviewed nor accepts responsibility for the adequacy or accuracy of this release. Investors are advised to carefully review the reports and documents that the Company files from time to time with the SEC, including its Annual, Quarterly and Current Reports.

 

 

For more information please contact:

 

David St. James

Secretary & Treasurer

Tel: (702) 994-7056

 

SOURCE: Homeland Resources Ltd.