TORONTO, April 18 /CNW/ - Euro-Net Investments Ltd. ("Euro-Net"), is
pleased to announce that it has entered into a letter of intent with
Canadian Copper Core Inc. ("CCC"), a private company, whereby the
parties will agree to enter into a business combination (the "Business
Combination") subject to several terms and conditions being met.
Under the Letter of Intent, Canadian Copper Core Inc., including all of
its mining assets, will be merged into the combined business. As a
condition of completion of the Business Combination, Euro-Net
Investments Ltd. will take all appropriate measures to lift cease trade
orders imposed by the Ontario Securities Commission, the Alberta
Securities Commission, and the British Columbia Securities Commission
currently in effect, and will apply for listing of the combined company
on a recognized Canadian stock exchange.
The Business Combination will be subject to board and shareholder
approval by both companies, and regulatory approval. Once the parties
have successfully completed their due diligence they will enter into a
definitive agreement, at which time a further press release will
confirm specific details of the Business Combination.
Canadian Copper Core Inc. owns or has optioned four lithium and rare
earth mineral properties in northern Ontario. CCC has also loaned funds
to Euro-Net on an ongoing basis pursuant to a Security Agreement
between the two companies dated October 15, 2008.
This press release contains certain "forward looking statements" that
involve a number of risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in such
SOURCE Euro-Net Investments Ltd.
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