Lone Oak Acquisition Corporation Reminds Shareholders to Vote FOR the Amendments to Its Articles of Association and Agreement Governing Its Trust Account

WANCHAI, Hong Kong, March 20, 2013 /PRNewswire/ -- Lone Oak Acquisition Corporation (OTC Bulletin Board: LOKAF) (the "Company") today reiterated the recommendation of its board of directors to vote "FOR" each of the following proposals (the "Proposals") at the Company's Special Meeting of Shareholders to be held at 10:00 a.m. New York time on Friday, March 22, 2013 at the offices of Loeb & Loeb LLP, 345 Park Avenue, New York, NY 10154:

• the proposal to amend the Company's Articles of Association to permit the Company to liquidate the Trust Account on September 24, 2013 and to cause Article 156 to be of no further force or effect after the distribution of the Trust Account (the "Article Amendment Proposal"); and
• the proposal to amend the agreement governing the Trust Account to extend the life of the Trust Account consistent with the Article Amendment Proposal (the "Extension"), and permit the Company to distribute the assets of the Trust Account to the holders of the Company's ordinary shares issued in the Company's initial public offering who wish to exercise their redemption rights in connection with the Extension.

If the Proposals are approved, the Company will have until September 24, 2013 to complete a business combination. 

Shareholders are reminded that as long as they continue to hold ordinary shares of the Company, their rights as shareholders will remain unchanged.  More specifically, they will continue to have the same rights with respect to any future redemptions of ordinary shares of the Company or any  liquidation of the Company's trust account, or the Company as a whole.

Important Information

On March 6, 2013, the Company filed a proxy statement with the Securities and Exchange Commission (the "SEC") in connection with the Company's upcoming special meeting of shareholders. Shareholders are advised to read the company's definitive proxy statement and any other relevant documents filed by the company with the SEC, before making any voting or investment decision because they contain important information. The definitive proxy statement is, and any other relevant documents and other material filed with the SEC concerning the company will be, when filed, available free of charge at http://www.sec.gov. In addition, copies of the proxy materials may be requested from the company's proxy solicitor, Advantage Proxy, by telephone at 1-877-870-8565 or 206-870-8565 or by email at [email protected].

Safe Harbor

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded or followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans," and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. Forward-looking statements in this release also include statements about business and economic trends. Investors should also consider the areas of risk described under the heading "Forward Looking Statements" and those factors captioned as "Risk Factors" in the Company's periodic reports under the Securities Exchange Act of 1934, as amended, or in connection with any forward-looking statements that may be made by the Company.

The Company also disclaims any duty to comment upon or correct information that may be contained in reports published by the investment community.

SOURCE Lone Oak Acquisition Corporation