HOUSTON, May 23, 2017 /PRNewswire/ -- Turner Valley Oil and Gas, Inc. (the "Company") ("Turner") (OTC: TVOG), pending name change to Turner Venture Group, Inc. has today announced the appointment of Rick Adams as the Company's new CFO.
Mr. Adams has been the Managing Director at Bullfrog Capital from 2002 to 2017, where he has developed a proven track record of finding profitable opportunities in all facets of business, leading successful teams, generating business, and closing transactions. Mr. Adams has also accumulated experience in business development, accounting, contract negotiation, regulatory compliance, and financial analysis.
Mr. Adams has performed services across the energy sector including; securing acquisition and development capital for upstream energy producers with transactions totalling over $560MM, the creation of leasing companies, corporate reorganizations, fair market valuation, investor representation, factoring, executive leadership, investor relations, and raising start-up capital.
From 2014 to 2015 Mr. Adams served as CFO of Applied Executive Solutions & Omega 6, a government security contractor with the US Army. From 2012 to 2014 he served as general manager of Innovative Energy Services, Inc., a 120 employee, $12MM + revenue oilfield services company. From 1998 to 2002, he served as Senior Director of Aquila Energy Corporation, an energy capital fund, where he expanded the company's portfolio from $4 million to $900 million while creating profits of $50 million a year. During the years 1994 to 1998, he served as Transaction Specialist and Financial Analyst for The Williams Companies.
On April 20, 2017, The Company announced the execution of an exclusive engagement with Network 1 Financial Securities, Inc. to raise $25,000,000 through a Preferred share offering. The capital placement is progressing as expected and the two parties expect a closing soon. Turner's management believes that the Company will be well positioned to close the initial acquisitions, continue growth, and finance additional M&A activity with this capital raise.
Turner's management team has been working aggressively in the last few months to complete all of the critical steps to grow shareholder value. With the new CFO appointment, this accelerates the company's goals of becoming fully SEC compliant, up-listing to the OTCQB, and completing final compliance and required conditions to fully capitalize the Company for growth.
Existing shareholders and prospective investors can sign up to receive company news, announcements and investor updates at http://turnerventuregroup.com/signup/.
About Turner Valley Oil and Gas, Inc.
Turner Valley Oil and Gas, Inc. (pending name change to Turner Venture Group, Inc.) (OTC:TVOG) is a business holding company, with a historical focus on energy related holdings. The Company's acquisition model is focused on finding and evaluating profitable small to mid-sized businesses as acquisition candidates where cash flow can be improved through its buy, build & bolt-on model within the shipping, real assets, energy, infrastructure, enterprise technology, and manufacturing segments.
Certain statements in this press release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended.
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SOURCE Turner Venture Group