/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
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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
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.
SOURCE W 7 ACQUISITION CORP.
For further information:
Ronald D. Schmeichel, CEO of W 7 Acquisition Corp. at 416-972-6294.