Tuscany Energy Ltd. and Diaz Resources Ltd. (Diaz) have completed their previously disclosed business combination (the "Business Combination"). Tuscany has acquired all of the issued and outstanding common shares of Diaz on the basis of 0.31 of a common share of Tuscany ("Tuscany Share") for each one (1) Diaz common share of Diaz ("Diaz Share") pursuant to a Plan of Arrangement under the Alberta Business Corporations Act.

In addition, following completion of the Business Combination the Tuscany Shares were consolidated on an 8 to 1 basis (the "Consolidation"). After giving effect to the Business Combination and the Consolidation, there are approximately 18.6 million post-Consolidated Tuscany shares outstanding. The Business Combination was approved by the shareholders of each of Tuscany and Diaz at meetings held yesterday.

Tags: Diaz Resources, Tuscany Energy Ltd.