HINSDALE, Ill., May 30, 2013 (GLOBE NEWSWIRE) -- ID Global Corporation (OTC:IDGC) a diversified holdings company with a focus on emerging and middle market investment opportunities in North America, today announces a Letter of Intent which contemplates an Exchange of capital stock and Secured Debt of ID Global Corp. for all of the outstanding membership interests of Mountain Hawk Energy, LLC.
Adhering to the company's new business strategy the advisory board recommended a definitive agreement on or before June 30 2013.
Sebastien DuFort, president and CEO of ID Global stated, "Anytime a company can acquire an income producing asset such as Mountain Hawk Energy, LLC, with an independent valuation of 7 million US Dollars as of 12/31/12, it is an exciting start to our portfolio of companies."
About Yorkville Advisors
Yorkville Advisors is a US-based alternative investment manager. Over the last decade, Mark Angelo, President of Yorkville, has been specializing in providing flexible, innovative debt and equity investments and financing to publicly listed companies in a variety of sectors including mining, oil & gas, healthcare, real estate, manufacturing & shipping and technology.
Yorkville tailors its transactions on an investment by investment basis, which may include debt and equity investments, bridge financings, asset-backed or SED A-backed notes, equity facilities and straight equity participation.
Yorkville has offices in New Jersey and London.
About Mountain Hawk Energy, LLC
Formed in January 2010, Mountain Hawk Energy is an energy company focused in the acquisition, exploration and development of coal bed methane properties in Wyoming's Powder River Basin and currently operating 42 producing natural gas wells, on 6760 acres. Mountain Hawk Energy is indirectly owned by a Yorkville Advisors' managed fund, YA Global Investments, L.P.
About ID Global Corporation
ID Global Corporation (IDGC) is a diversified holdings company with a focus on emerging and middle market investment opportunities in North America. IDGC seeks, through debt and equity investments, controlling interests in established companies as well as special situation start-ups.
Forward-Looking Statements
This press release contains statements which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of ID Global Corporation and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.