Precision Withdraws Qualifying Transaction
28 7월 2010 - 4:46AM
Marketwired
Precision Enterprises Inc. (TSX VENTURE: PSC.H) (the "Company")
announces further to its news release of February 3, 2010 that due
to unfavorable market conditions it has been unable to arrange for
the required financing to complete its proposed business
combination with NPTx NeuroPsychoTherapeutics Corporation, which
would have constituted the Company's Qualifying Transaction ("QT").
Accordingly, the Company will not be proceeding with the QT, nor
will it proceed with the proposed name change or change to the
current Board of Directors or management.
The Company will remain on the NEX Board until it has found a
new project or property of merit.
ON BEHALF OF THE BOARD
Joe DeVries, President and CEO
Certain statements included herein are "forward-looking
statements". Management cautions that forward-looking statements
are not guarantees and that actual results could differ materially
from those expressed or implied in the forward-looking statements.
Factors beyond the control of the Company could cause the actual
results of operations, or the financial condition of the Company,
to differ, including changes to financial and market conditions.
The Company assumes no obligation to update forward-looking
statements, other than as may be required by applicable law.
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 release.
Contacts: Precision Enterprises Inc. Joe DeVries President and
CEO (604) 718-2800 (604) 718-2808 (FAX)
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