WELLAND, ON, Jan. 23, 2012 /CNW/ - Lakeside Steel Inc. (TSX-V: LS)
("Lakeside" or the "Company") today announced that the extended period
in which the Company has agreed to negotiate exclusively with the
potential purchaser regarding an acquisition or similar transaction has
been extended until 9:00 a.m. on Tuesday, January 24, 2012 in order to
allow the parties to conclude their negotiations and finalize
definitive transaction agreements.
The proposed acquisition remains subject to certain conditions including
the execution of a definitive transaction agreement between the Company
and the purchaser as well as the execution of support agreements with
directors of the Company and certain significant shareholders. There is
no assurance that definitive transaction agreements will be executed by
the parties or that the proposed acquisition will be consummated.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Lakeside Steel Inc.
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