(24th May, 2011)
TULSA, Okla., May 24, 2011 /PRNewswire via COMTEX/ — CAVU Resources, Inc. (”CAVU”), which trades as OTC:CAVR.PK, announces today it has received a $10 million dollar funding commitment from Kodiak Capital Group, LLC to complete its current and targeted acquisitions.
CAVU plans to file a listing and registration statement for its 100% owned subsidiary CAVU Energy Services and utilize the $10 million for plans to complete additional acquisitions and current contracts in a non dilutive equity offering. CAVU will distribute ownership in CAVU Energy Services to its shareholders on a pro rata basis of their shares held in CAVU Resources, Inc., upon closing of the targeted transactions and notification of FINRA of the proposed dividend.
“The recent debts settlements along with this funding commitment continue to improve our financial position and future opportunities. The planned listing of its subsidiary CAVU Energy Services will allow for future growth in the oil and gas waste, environmental cleanup and disposal business. The completion of the filing and funding will continue to bring additional value to our shareholders and diversification in CAVU’s future growth,” stated William Robinson, President of CAVU Resources, Inc.
About Kodiak Capital Group LLC (”Kodiak”)
Kodiak is an institutional investor headquartered in New York, NY. Kodiak’s experienced professionals manage a portfolio of investments in public and private entities. These investments are in a wide range of companies and industries emphasizing life sciences, energy and technology. Kodiak’s investments range from multiyear financial commitments to fund growth to special situation financings to long-term strategic capital offering companies certainty, flexibility and consistency. For more information, visit www.kodiak-capital.com .
About CAVU Resources, Inc.
During World War II, Navy fighter pilots would look up at the sky and if it was a “CAVU” day then it meant ceiling and visibility unlimited. The pilots believed they would have unobstructed flying allowing them to see their targets quicker, identify the obstacles they needed to overcome, giving them a greater chance of success. The founders of CAVU Resources, Inc., chose the name CAVU because they believe that the company will be the embodiment of its name.
CAVU was formed with the goal of becoming a recognized regional player in the independent oil and natural gas industry by growing the company’s oil and natural gas reserves. CAVU is a natural resource company engaged in the acquisition, exploration and development of oil and natural gas properties. The Company operates in the upstream segment of the oil and gas industry with planned activities including the drilling, completion and operation of oil and gas wells in Oklahoma, Kansas, Colorado, Montana and Texas. The Company also owns two pipelines in its area of operations, which will be used for gathering its gas and oil and the gas and oil production of other producers. The Company has acquired leases and is currently exploring additional opportunities in oil, gas and helium leases. The company has acquired significant oil and gas equipment including rigs, trucks and completion equipment.
CAVU’s 100% owned subsidiaries, CAVU Energy Services, LLC provides contract drilling, fracture stimulation and directional drilling services to oil, natural gas exploration and production companies. EnviroTek Fuel Systems, Inc., provides natural gas delivery and marketing thru its own pipelines and FILO quip Resources, LLC a licensed Oil and Gas Operating Company manages the company’s properties and targeted leases in Oklahoma, Colorado and Montana. CAVU plans to expand operations not only in the traditional Oil and Gas business, but also to invest in Geo-Thermal, Wind, taking advantage of the changing environment and in the world’s need for new, green and innovative resources. More information is available at the company’s website at http://www.cavu-resources.com .
Cautionary note: This report contains forward-looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to U.S. investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as “reserves” unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
Kodiak Capital Group, LLC http://www.kodiak-capital.com One Columbus Place, 25th Floor, New York, NY 10019Tel: 212-262-2600
CAVU Resources, Inc.firstname.lastname@example.org CAVR.PK5147 South Harvard Ave,Suite 138Tulsa, OK 74135Tel: 504-722-7402Fax: 918-782-0776
SOURCE CAVU Resources, Inc.