|By Marketwired .||
|September 17, 2013 09:45 PM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 09/18/13 -- Kilimanjaro Capital Ltd. ("Kilimanjaro" or "the Company") (GXG:KCAP), the GXG Markets-listed cash shell, is pleased to announce that it has entered into negotiations to acquire a conventional oil & gas producing asset in North America.
According to Kilimanjaro CEO Zulfikar Rashid, "This conventional asset acquisition is a portfolio balancing measure to insure shareholder value. The target will most likely be a non-operating interest in a NI51-101 compliant property already under production in North America and will balance our existing portfolio of interests in Africa. While we are not deviating from our primary goal of further asset development in Africa; we do believe a North American property already under production will be a desirable diversification."
Negotiations with a private Canadian energy company are ongoing and an agreement is expected to be announced soon.
In addition, Kilimanjaro is pleased to announce that its shares are now being traded through the UK stockbroker Alexander David Securities Limited.
For additional information see Kilimanjaro's website at www.kilimanjarocapital.ca.