W 7 Acquisition Corp. Announces Termination of Proposed Qualifying Transaction
09 Junio 2012 - 11:15AM
PR Newswire (Canada)
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS
RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./ TSX
VENTURE EXCHANGE: WSV.P TORONTO, June 11, 2012 /CNW/ - Further to
the press release dated April 20, 2012, W 7 Acquisition Corp. ("W
7") announces that W 7 and Amber Petroleum plc ("Amber") have
mutually agreed to terminate the previously announced letter of
intent between W 7 and Amber dated April 18, 2012, and as a result
W 7's proposed qualifying transaction with Amber has been
terminated. W 7 did not advance any funds to Amber in connection
with the proposed qualifying transaction with Amber. W 7 will
continue to pursue and evaluate other businesses and assets with a
view to completing a qualifying transaction and will make further
announcements with respect to these efforts as soon as practically
possible. W 7 cannot offer any assurances that a qualifying
transaction will be completed. The common shares of W 7 are
expected to resume trading on the TSX Venture Exchange on June 12,
2012. This press release does not constitute an offer to sell or
the solicitation of an offer to buy any securities in any
jurisdiction. ANY SECURITIES REFERRED TO HEREIN WILL NOT BE
REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE "1933 ACT")
AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S.
PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE 1933 ACT. Investors are cautioned
that trading in the securities of a CPC should be considered highly
speculative. Notice on forward-looking statements: This release
includes forward-looking statements regarding W 7, Amber, and
their respective businesses, which may include, but are not limited
to, statements with respect to the resumption of trading of the W 7
common shares on the TSX Venture Exchange and other factors. Often,
but not always, forward-looking statements can be identified by the
use of words such as "plans", "is expected", "expects",
"scheduled", "intends", "contemplates", "anticipates", "believes",
"proposes" or variations (including negative variations) of such
words and phrases, or state that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be
achieved. Such statements are based on the current expectations of
the management of each entity. The forward-looking events and
circumstances discussed in this release, including the resumption
of trading of W 7's common shares on the TSX Venture Exchange, may
not occur by certain specified dates or at all and could differ
materially as a result of known and unknown risk factors and
uncertainties affecting the companies, including economic factors
and the equity markets generally. Although W 7 and Amber have
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results to differ from those
anticipated, estimated or intended. No forward-looking statement
can be guaranteed. Except as required by applicable securities
laws, forward-looking statements speak only as of the date on which
they are made and W 7 and Amber undertake no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events, or otherwise. W 7
is a CPC governed by the policies of the TSX Venture Exchange. W
7's principal business is the identification and evaluation of
assets or businesses with a view to completing a qualifying
transaction. Neither the 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. W 7 ACQUISITION CORP. CONTACT: Ronald D.
Schmeichel, CEO of W 7 Acquisition Corp. at416-972-6294.
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