VANCOUVER, British Columbia, May 8, 2006 (PRIMEZONE) -- Stafford Energy, Inc. ("Stafford") (Pink Sheets:SFDE) is pleased to announce that it has closed the Share Exchange Agreement with Nucon, Inc. ("Nucon"), a Nevada company.
As of this date, Mr. Robert Stepan, Mr. Todd Sinclair and Mr. Sven Smeds have resigned as Directors of Stafford, and Mr. J. Holt Smith, Esq. has been appointed to the Board of Directors. Mr. Richard Connors will remain on the Board for the transition period until a newly elected Nucon Board of Directors assume their duties.
Stafford will begin the transition period whereby it will complete all necessary filings with the State of Nevada and the NASD to affect a name, cusip number and symbol change to reflect the new name, NUCON-RF, Inc. In addition, under the terms of the share exchange agreement, Stafford will effect a 275-to-1 share consolidation on or about May 22nd, 2006, after which, Stafford will acquire 22,500,000 common shares of Nucon representing 100% of Nucon's outstanding common stock in exchange for 22,500,000 shares of Stafford's common stock. In addition, there will be an issuance of 3,000,000 post consolidated debt settlement shares. On completion of the transition period, Stafford will have a total of 25,858,647 common shares issued and outstanding.
Nucon has established alliances and contracts with Russian Federal government agencies responsible for the domestic and export nuclear industries, including a contract as project partner with Atomstroyexport, www.atomstroyexport.ru/index-e.htm to provide materials, technologies and services for the Chernobyl Shelter Implementation Plan in Ukraine. Nucon has the capability to provide product, technological and engineering support for environmental and radioactive waste challenges including, compliance, shielding, transport and storage requirements for a broad range of radioactive and toxic wastes. For more information on the company please visit its web site www.nucon-rf.com
Safe Harbor Statement
Statements in this press release that are not historical facts are forward-looking statements, including statements regarding announcements of financial results, business potentiality and other prospective presentations by Stafford. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products in domestic and international markets will continue to expand. Stafford undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in Stafford's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.