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WCSB 2010, 2010-II FUND COMPLETES SALE OF ROYALTIES TO TOSCANA ENERGY INCOME CORP. (TEI:TSXV)

April 25, 2013

FOR IMMEDIATE RELEASE

 

Vancouver, British Columbia - WCSB Oil & Gas Royalty Income 2010 Limited Partnership (“WCSB 2010 LP”) and WCSB Oil & Gas Royalty Income 2010-II Limited Partnership (“WCSB 2010-II LP” and, together with WCSB 2010 LP, the “Partnerships”) are pleased to announce that they have completed the sale of the portfolios of oil and gas royalties held by the Partnerships to Toscana Energy Income Corporation (“Toscana Energy” or the “Company”) (TSX Venture: TEI) originally announced on April 3, 2013.  As consideration, Toscana Energy issued an aggregate of 1,033,000 common shares in the capital of the Company, such common shares being subject to a statutory hold period of four months plus one day from the date of issuance.  The Partnerships will distribute to investors the Toscana Energy shares remaining after all closing adjustments and other expenses of the Partnerships have been satisfied as soon as is reasonably practicable after the hold period on the shares has expired.

 

On behalf of the Board of WCSB Royalty Income Investments, CADO Bancorp Ltd.  and Brickburn Asset Management Inc.



FOR FURTHER INFORMATION
Shane Doyle, CEO
www.wcsb.ca


609 Granville Street, Suite 808 Vancouver BC   V7Y 1G5
Tel:  604.684-5742    |   Email:  info@cadobancorp.ca

 

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. Forward‐looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions.  More particularly and without limitation, this news release contains forward‐looking statements and information concerning the Partnership’s anticipated distribution of the Toscana Energy common shares to limited partners. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Partnerships. Although management believes that the expectations and assumptions on which such forward looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.