CALGARY, ALBERTA--(Marketwire - Sept. 26, 2012) - Crown Point Energy Inc. ("Crown Point") (TSX VENTURE:CWV), an Argentine focused exploration and production company, is pleased to announce that it has changed its financial year end from August 31 to December 31.
Crown Point's transition year will be the four months ending December 31, 2012. The comparative period will be the 12 months ended August 31, 2012. The filing deadline for these financial statements is April 30, 2013. Further details can be found in Crown Point's Notice of Change in Year End prepared in accordance with Section 4.8 of National Instrument 51-102 - Continuous Disclosure Obligations, which has been filed on SEDAR under Crown Point's profile.
The change will align Crown Point's financial reporting and enable it to streamline its annual budgeting and operations with the calendar year which is consistent with other peer companies in the oil and gas industry. The change is expected to be beneficial to Crown Point's shareholders and the capital marketplace in comparing the results of Crown Point to its peer group.
This news release may include certain forward-looking information, including statements relating to business and operating strategies of Crown Point using words including "expected", "will" and similar expressions, which are intended to identify these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. The forward-looking information contained in this news release is made as at the date of this news release and Crown Point does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. Readers are urged to consider these factors carefully in evaluating any forward-looking information.
Additional information on other factors that could affect Crown Point's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or Crown Point's website (www.crownpointventures.ca).
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 news release.