Mart Resources, Inc. says that, in response to recent reports contained in the Nigerian press, it has not entered into a definitive agreement or transaction regarding a sale of the company to Midwestern Oil & Gas Company Limited (Midwestern) or any other party. The press report has been removed from the Nigerian news agency's website as it is completely without merit and should be totally disregarded.

As previously announced, Mart continues to examine and consider strategic alternatives available to the Company to maximize shareholder value and confirms that Mart is not currently in discussions with Midwestern regarding a potential sale. Any future strategic alternatives transaction will be subject to applicable regulatory, stock exchange and Mart shareholder approval.

Tags: Mart Resources