Turner Venture Group Announces Financial and Compliance Update

Rhea-AI Summary

Turner Valley Oil and Gas (OTC PINK:TVOG), now known as Turner Venture Group, announces a progress update on financial reporting and audits. The Company has filed its quarterly financial statements for Q1 2021 and is undergoing an audit by Briggs & Veselka Co. to facilitate a Form 10 filing for uplisting to the OTCQB. An equity placement agreement worth $4 million with GHS Investments is contingent on this audit, which aims to support future acquisitions. Further developments on product marketing and compliance are expected soon.

Positive

• Completed filing of quarterly financial statements for Q1 2021.
• Engaged Briggs & Veselka Co. for auditing, a crucial step for uplisting to OTCQB.
• Anticipates $4 million equity financing agreement contingent on Form 10 registration.

Negative

• None.

AUSTIN, TX / ACCESSWIRE / June 24, 2021 / Turner Valley Oil and Gas, Inc. (the "Company") ("Turner") (OTC PINK:TVOG), now doing business as Turner Venture Group, Inc., is pleased to provide an update on financial reporting, the ongoing audit and the upcoming Form 10 filing. The Company has completed and filed with OTC Markets the quarterly financial statements for the period ending on 3/31/21. Below is a link to access the report.

https://backend.otcmarkets.com/otcapi/company/financial-report/283550/content

Briggs & Veselka Co. has begun to work with the Company in order to audit the Company's financial statements for the past two years, and support completion of required SEC filings necessary for uplist to the OTCQB marketplace tier. We anticipate completion of this Audit in second half of 2021.

https://www.otcmarkets.com/stock/TVOG/news/Turner-Venture-Group-Announces-Engagement-of-Auditor?id=296649

The completion of these activities is a prerequisite for the Company's equity placement agreement with GHS Investments, LLC which requires a Form 10 registration, and an effective registration statement (typically Form S-1) as part of a $4,000,000 equity financing agreement which is available to view at the following link: https://backend.otcmarkets.com/otcapi/company/financial-report/215959/content

The completion of the audit will be an important catalyst to advance additional acquisitions that are under review at this time. Please visit the Company's website for additional details on updated product labeling, box design and marketing materials for BloomiClean as per compliance discussions with legal counsel. Further information regarding the product roll out to market, changes to our online payment processor and details on our retail marketing strategy will be forthcoming in the near future. Please refer to most recent website announcements for more information: https://tvoginc.com/industry-news/turner-news/

About Briggs & Veselka Co.
Founded in 1973, Briggs & Veselka Co. is Houston's largest independent accounting firm. They are also the third-largest independent CPA firm in Texas. Briggs & Veselka offers audit, consulting, and tax services with experts specializing in a wide range of industries.

About Turner Valley Oil and Gas, Inc.
Turner (OTC PINK:TVOG) is a Venture Holding Company that acquires equity interests in innovative products and companies within the real assets, hemp, health, wellness, sanitation, infrastructure and supply chain technology segments. Turner's cornerstone acquisition of Bloomi Labs, LLC has formulation of a CBD Hand Sanitizer manufactured domestically.

Disclosures
Certain statements in this press release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended.

Key Links:
OTCMarkets Profile: http://www.otcmarkets.com/stock/TVOG/profile
Disclaimer: https://TVOGinc.com/contactus/disclaimer/
Corporate Website: http://TVOGInc.com | http://BloomiClean.com
Twitter: http://twitter.com/tvoginc | http://twitter.com/BloomiClean
Facebook: https://www.facebook.com/TVOGinc/
LinkedIn: https://www.linkedin.com/company/TVOGinc/

Contacts:
James B. Smith, CEO, Chairman
Turner Valley Oil And Gas, Inc.
Address: 5900 Balcones Drive, Suite 4503, Austin, TX 78731
Phone: 1-830-291-8189
Email: TurnerVentureGroupInc@gmail.com or info@TVOGinc.com

SOURCE: Turner Venture Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/652872/Turner-Venture-Group-Announces-Financial-and-Compliance-Update

FAQ

What recent updates has Turner Valley Oil and Gas (TVOG) announced?

Turner Valley Oil and Gas announced the completion of its quarterly financial statements for Q1 2021 and the commencement of an audit by Briggs & Veselka Co.

What is the purpose of the audit being conducted for TVOG?

The audit aims to facilitate the filing of Form 10, which is necessary for uplisting to the OTCQB marketplace.

What is the value of the equity financing agreement associated with TVOG?

The equity placement agreement with GHS Investments is valued at $4 million.

When is the audit for Turner Valley Oil and Gas expected to be completed?

The Company anticipates the completion of the audit in the second half of 2021.

What developments can investors expect from TVOG in the near future?

Investors can expect updates on product marketing, compliance, and potential acquisitions as the Company progresses with its audit.