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TrinCan Capital Corp. reported that the company has entered into a letter of intent dated February 11, 2010 and effective February 1, 2010 for the acquisition of certain heavy oil assets located in the Buzzard area of Saskatchewan.

TrinCan Capital Corp. reported that the company has entered into a letter of intent dated February 11, 2010 and effective February 1, 2010 for the acquisition of certain heavy oil assets located in the Buzzard area of Saskatchewan.

The press release is quoted as saying:

The Transaction is expected to close on March 31, 2010 (the “Closing Date”). This Transaction is an “Arm’s Length Transaction” as defined by the applicable policies of the Exchange; accordingly it is not anticipated that the Transaction will be subject to shareholder approval.

Click here to access the entire press release

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