TORONTO, ONTARIO -- (Marketwire) -- 07/30/10 -- 3P International Energy Corp., formerly, Colonnade Capital Corp., (the 'Corporation' or '3P') (TSX VENTURE: DOH) is pleased to announce that it has received final acceptance from the TSX-V of its previously announced acquisition of all of the issued and outstanding shares of Galizien Energy Corp. ('Galizien'). Pursuant to the terms of a share purchase agreement executed July 21, 2010, the Corporation has issued 4,400,000 common shares and paid $285,000 as consideration for the acquisition of all of the issued and outstanding shares of Galizien. The Corporation previously announced the completion of the acquisition in a press release dated July 21, 2010.
The transaction qualifies as an 'Expedited Acquisition' under the policies of the TSX Venture Exchange.
About 3P International Energy Corp. (formerly, Colonnade Capital Corp.)
3P International Energy Corp. is actively seeking international energy opportunities which meet its business model criteria of discovered but undeveloped known shallow reserves in politically and business friendly climates, which can be exploited using conventional and unconventional drilling, completion and reservoir technologies.
On behalf of the Board of Directors
This press release may contain forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. All statements that address future activities, events or developments that the Corporation believes, expects or anticipates will or may occur are forward-looking information. Forward-looking information is based upon assumptions by management that are subject to known and unknown risks and uncertainties beyond the Corporation's control. There can be no assurance that outcomes anticipated in the forward-looking information will occur and actual results may differ materially for a variety of reasons. Accordingly, readers should not place undue reliance on forward-looking information. The Corporation undertakes no obligations to update publicly or otherwise revise any forward-looking information, except as may be required by law. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to the Corporation's filings with the Canadian securities regulators available on www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
3P International Energy Corp.