NEW YORK, June 26, 2018 (GLOBE NEWSWIRE) -- Century Petroleum Corp. (OTC:CYPE) ("CYPE" or the "Company") is pleased to update its shareholders that there has been a change of control of the Company. As one may suspect there are several things going on with the Company. First and foremost, there has been a change of control to The Ibeto Group.
The Company is in the process of auditing the past years of US operations and those of the target acquisition in Nigeria with full intention to file the Form 10 or S-1 registration statement just as soon as possible with the Securities and Exchange Commission.
Century Petroleum Corp. officially is in the process of changing the name to Ibeto Cement International Corporation and has moved the state of domicile from Nevada to Florida, documents have been filed in Nevada to close that corporation and the Florida Corporation has been established under the new name. This is needed to strategically align with the new management and control partners moving forward. The Company is in the process of filing the corporate action form with FINRA of the proposed changes.
Erroll A. Booker, the Chief Executive Officer of Century Petroleum Corp., stated, "I am extremely excited to take the reins. This is a team effort and now it is my turn to bring Ibeto Cement in Nigeria to the Company in America and that will be of great value for all our shareholders. I would ask all shareholders to be patient as we work through the complicated process which needs to be done correct and takes time," Booker concluded.
The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.
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Source: Century Petroleum Corp