Robert McIntosh, President of Silver Star, states, "Silver Star is very pleased to have this financing arrangement with Cornell Capital and to have access to the $1.5 bridge loan. This influx of capital funding will allow Silver Star to undertake development drilling and other operations while the cash flow from North Franklin is beginning to come on-stream. As well, the SEDA of up to $10 million to draw on allows us access to further capital when required to finance various exploration and development projects."
ABOUT CORNELL CAPITAL PARTNERS, LP
Established in January 2001, Cornell Capital Partners, LP (www.cornellcapital.com) has funded numerous companies listed on the OTCBB. Building on that solid foundation, Cornell has consummated transactions with AMEX and NASDAQ listed companies, and continues its success in international markets.
ABOUT SILVER STAR ENERGY, INC.
The Company is committed to the exploration and extensive development of oil and natural gas reserves throughout western North America. Company management is focused on an acquisition program targeting high-quality, low-risk prospects provided via key strategic alliance partnerships.
Safe harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Silver Star Energy, Inc. has little or no control.
ON BEHALF OF THE BOARD
Silver Star Energy, Inc.
Robert McIntosh-President
To find out more about Silver Star Energy, Inc. (OTCBB: SVSE), visit our website at www.silverstarenergy.com
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