CARLSBAD CA -- (Marketwire) -- 02/24/11 -- ALASKA PACIFIC ENERGY 'APEC' (OTCBB: ASKE) is pleased to announce that APEC is nearing completion of discussions to amalgamate with a Canadian company seeking its public listing on the Frankfurt Exchange. This relationship will help to develop an integrated relationship involving the establishment of mining operations in Tanzania, management assistance and financing. Shortly, an announcement will be made concerning the opening of offices in Tanzania as the company begins to establish solid infrastructure in order to move forward with its business plan. APEC's new proposed partner is currently reviewing APEC's filings, its minute book and undertaking their due diligence with a view to amalgamation of both companies.
A very comprehensive relationship is being discussed, details of which will be announced soon. The company expects this to lead to the further acquisition of new mining properties and financing.
APEC management is pleased with the discussions and given the current circumstance of APEC; the company sees the benefits of such a relationship to be in the best interests of shareholders and the need to maintain shareholder value.
Safe Harbor Statement; under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward- looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Jim King Sr.