Golden Triangle Ventures, Inc. Announces a Formal Update on its Business Activities

Rhea-AI Summary

Texas Oil & Minerals, Inc. recently provided an update following its merger with Golden Triangle Ventures, Inc. (GTV), completed on August 22, 2019. GTV has faced challenges in obtaining a new stock symbol from FINRA due to the absence of financial filings from 1987 to 1997, which led to a denial of its corporate action. GTV has filed an appeal and is now focused on updating its financial records to maintain status on OTC Markets. The company is advancing in its Health, Entertainment, and Technology sectors and plans to share significant developments soon.

Positive

• Merger with Golden Triangle Ventures allows expansion into Health, Entertainment, and Technology sectors.
• Management is proactively addressing FINRA's concerns by uploading delinquent financial information.
• Plans to share significant advancements in business operations soon.

Negative

• FINRA declined the corporate action for the new stock symbol due to historical filing issues.
• Ongoing appeal process may delay the resolution regarding the name and symbol change.

LAS VEGAS, NV / ACCESSWIRE / September 21, 2020 / Texas Oil & Minerals, Inc. recently merged with Golden Triangle Ventures, Inc. ("GTV"), a strategic consulting company doing business in the Health, Entertainment and Technology sectors, announces a formal update on past, present and future business endeavors.

Golden Triangle Ventures, Inc. executed a merger agreement with Texas Oil & Minerals, Inc. on August 10, 2019 and completed a formal merger in the State of Texas on August 22, 2019. The company changed its name in the State of Texas to Golden Triangle Ventures, Inc. and received a new CUSIP number and DTC eligibility. Management of GTV immediately moved forward with a formal corporate action with the Financial Industry Regulatory Authority (FINRA) to obtain a new stock symbol and name change. After submitting and satisfying the requests from FINRA over the past year, the corporate action was recently submitted to a secondary counsel inside of FINRA for a final review. On August 18^th, 2020, FINRA responded with their decision to decline the corporate action name and symbol change due to missing 10-Q's and 10-K's that were not filed between 1987 and 1997 by the previous management. Golden Triangle Ventures has filed a formal appeal with FINRA and the company expects to prevail after a final decision is made. The company will maintain its current status and continue to trade under the symbol TOMI for the time being.

With the decline of the corporate action submitted by FINRA, the company has begun to upload the delinquent financial information needed to maintain a current status with OTC Markets.

Currently, management has been strongly focused on its Health, Entertainment, and Technology divisions. Each division is managed and operated by a full team of professionals that work full time to expand and develop the products and services offered. The company has made some significant advances on all fronts and we are now preparing to share all the developments within the coming weeks.

Steffan Dalsgaard, CEO of Golden Triangle Ventures states, "Working to obtain a new name and symbol change has been one of the most extensive procedures I have ever endured. We have spent countless hours and dollars trying to get past this corporate action change. As frustrated as I am to receive the news from FINRA, I am very happy that we now get to show the world what we have accomplished. The formal appeal has recently been filed with FINRA and we have a plan in place that we will execute if the appeal does not go in our favor. I am beyond excited for the future of our business and I promise that we will not stop pushing for this collective goal until we accomplish just that. Our business is moving forward daily and I am grateful that we are now able to begin sharing all our developments. I want to personally thank each and every shareholder for their patience during these times."

About Golden Triangle Venture

Golden Triangle Ventures, Inc. or "GTV" is a multifaceted consulting company pursuing ventures in the Health, Entertainment and Technology sectors. The company aims to purchase, acquire and/or joint venture with established entities within these areas of business. In addition, GTV provides a professional corporate representation service to different companies in these sectors while consulting on a variety of different business development objectives. The goods and services represented are driven by innovators who have passion and commitment in these marketplaces. The company plans to utilize relationships and create a platform for new and existing businesses to strengthen their products and/or services. The three points of the Golden Triangle exclusively represent the three sectors this company aims to do business in. For short updates on the company, please visit the corporate Twitter page @GTV_Inc

Golden Triangle Ventures Website: http://www.GoldenTriangleInc.com

Forward-Looking Information

This news release may include "forward-looking statements" including forecasts, estimates, expectations, and objectives for future operations including but not limited to its ability to conclude a business combination with a third party, sale of assets, return of capital or initial public offering and a secondary listing on the OTC as a result of aforementioned and its ability to fund the exploration of its assets through the raising of equity or debt capital or through funding by a joint venture partner that are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of Texas Oil & Minerals, Inc. including but not limited to capital markets and securities risks and continued development success on technology. There can be and are no actual or implied guarantees that any of the above activities will be completed or completed on terms acceptable to the Company and its shareholders or approved by any regulatory authority having jurisdiction. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Texas Oil & Minerals, Inc. does not assume the obligation to update any forward-looking statement, except as required by applicable law.

CONTACT INFORMATION:

Golden Triangle Ventures, Inc.
info@GoldenTriangleInc.com
1-800-469-2614

SOURCE: Golden Triangle Ventures, Inc.

View source version on accesswire.com:
https://www.accesswire.com/606734/Golden-Triangle-Ventures-Inc-Announces-a-Formal-Update-on-its-Business-Activities

FAQ

What is the current status of TOMI after the merger with Golden Triangle Ventures?

Texas Oil & Minerals, Inc. currently trades under the symbol TOMI while awaiting a resolution on its appeal with FINRA regarding a new stock symbol.

What financial filings are affecting TOMI's corporate actions?

Missing 10-Q and 10-K filings from 1987 to 1997 have led to FINRA declining the company's corporate action for a new name and stock symbol.

What sectors is Golden Triangle Ventures focusing on?

Golden Triangle Ventures is concentrating on expanding its business activities in the Health, Entertainment, and Technology sectors.

When did the merger between Texas Oil & Minerals and GTV take place?

The merger between Texas Oil & Minerals and Golden Triangle Ventures was completed on August 22, 2019.

What is the plan following FINRA's decision on the corporate action?

Golden Triangle Ventures has filed a formal appeal with FINRA and is also working on updating its financial records to maintain its status with OTC Markets.