Dundarave Resources Inc. and ENPAR Technologies Inc. Mutually Agree to Terminate the ExtrEL Nickel Recovery Technology License A
09 7월 2010 - 7:00AM
Marketwired
Dundarave Resources Inc. (TSX VENTURE: DDX) ("Dundarave") and ENPAR
Technologies Inc. (TSX VENTURE: ENP) ("ENPAR") announce that,
effective July 08, 2010, they have mutually agreed to terminate the
ExtrEL Nickel Recovery Technology License Agreement.
Effective July 8, 2010, Dundarave shall have no residual
interest in the Enpar Technology, ExtrEL Patent Applications and
the Improvements, and the parties agree that all Licensed Rights
shall revert back to Enpar.
The current depressed nickel price and the associated project
economics have prevented Dundarave from raising the funds required
to meet its obligations under the agreement which include building
a pilot plant at a cost of over $3 Million CDN.
Dundarave President & CEO, Paul Matysek, stated that,
"Dundarave values the business relationship established with Enpar
President & CEO, Dr. Gene Shelp, and the team at ENPAR and
extend our best wishes for their future success."
Directors and Management of Dundarave are now actively involved
in reviewing a number of mineral exploration and development
projects and will keep shareholders apprised of any significant
developments.
ON BEHALF OF THE BOARD
Paul Matysek, M.Sc., P. Geo., President & CEO
Forward Looking Statement
This press release contains "forward-looking information" that
is based on the Company's current expectations, estimates,
forecasts and projections. This forward-looking information
includes, among other things, statements with respect to the
Company's plans, outlook and business strategy. The words "may",
"would", "could", "should", "will", "likely", "expect",
"anticipate", "intend", "estimate", "plan", "forecast", "project"
and "believe" or other similar words and phrases are intended to
identify forward-looking information Forward-looking information is
subject to known and unknown risks, uncertainties and other factors
that may cause the Company's actual results, level of activity,
performance or achievements to be materially different from those
expressed or implied by such forward-looking information.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Dundarave Resources Inc. Paul Matysek President &
CEO 604-408-4777 604-408-4799 (FAX)
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