TORONTO, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Greencastle Resources Ltd. (TSXV: “VGN”) “Greencastle” or the “Company”) is pleased to announce an initial investment in Criterium Energy Ltd. (TSXV-CEQ) “Criterium”, an emerging, upstream energy company focused on the acquisition and development of oil and gas assets in Southeast Asia.

Greencastle has acquired 6,000,000 Criterium units at a price of $0.04 for total consideration of $240,000. Each unit is comprised of one common share of Criterium and one common share purchase warrant. The warrants are exercisable for a period of five years and allow the holder to purchase up to 6,000,000 additional Criterium common shares at $0.04.

“Greencastle has had a very long and profitable relationship with Softrock Minerals Ltd.. The team at Softrock has reviewed dozens of opportunities, with a view to completing some form of transformational transaction. We are very pleased to have an opportunity to participate with them in the launch of this exciting new energy company. I have had some great discussions with Robin Auld, Criterium CEO, and I think they have a very clear plan for ramping this up,” commented Anthony Roodenburg, Greencastle CEO.

For more information, please visit: www.greencastle.ltd or contact: Anthony Roodenburg, CEO, 416-367-4571 ext. 222.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company’s mineral properties, and the Company’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.