SPRING, TX / ACCESSWIRE / November 3, 2015 / True North Energy Corp. (TNEN) ("True North"), through its wholly-owned subsidiary Marco Capital Ltd., signed a binding letter of intent with LeCrown Ltd. Hong Kong ("LeCrown") to complete on December 1, 2015. Operating from Milan, Italy, LeCrown designs and produces handmade Italian fashion shoes, with a heritage from the 1940's. LeCrown shoes are distributed through 198 high-end stores in Italy, and internationally including Europe, Japan, and the U.S.A. Its online store can be found at www.LeCrown.it.
President of TNEN, Gil Steedley, said, "We are excited to begin our diversification strategy with an important stake in the Italian fashion arena. LeCrown is a valuable addition to the True North portfolio."
LeCrown President and designer Nicolo Golia Bedendo, said, "LeCrown welcomes True North as a core stakeholder as it furthers its international business strategy development. We have invited and Mr. Steedley has accepted, for True North to appoint a member to the Board of Directors of LeCrown."
About True North Energy Corporation
Traditionally, True North Energy Corporation has engaged in the identification, acquisition and development of oil and gas properties. Through its subsidiary, TN Energy Corp., a Texas Corporation, the company holds overriding royalty interests on properties located in Colorado and Oklahoma. To explore opportunities in various industries, TNEN holds 100% of Marco Capital Limited, a Hong Kong company. Marco Capital holds an interest in LeCrown. For further information about True North, please visit www.tnencorp.com.
About LeCrown Ltd.
LeCrown is a footwear brand established in 2010. A genuine Italian made product which has earned, season after season, access to the best Italian and European boutiques. Last year LeCrown landed in the United States where it was distributed in the most prestigious showcases. LeCrown shoes are proudly handcrafted and hand finished. The attention to detail and passion that LeCrown puts into its work is evident at first glance and touch. Its success comes from the collections renewed each season; the product proposition, and being attentive to fashions and trends.
This press release may contain forward-looking statements, including information about management's view of True North's future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release, other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of True North, its divisions and concepts to be materially different than those expressed or implied in such statements. The forward-looking statements included in this press release are made only as of the date hereof. True North cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, True North undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by True North.
True North Energy Corporation
SOURCE: True North Energy Corporation