TORONTO, March 11, 2014 /CNW/ - 71 Capital Corp. (the "Corporation") (TSXV-NEX: SVN.H) today announced that it has terminated its letter of intent for the qualifying transaction with ADL Oilfield Consulting Ltd. ("ADL"). Although management of the Corporation and ADL worked diligently to complete this transaction market conditions were such that the conditions for completion of the transaction could not be satisfied. Management is actively looking for a new qualifying transaction for the Corporation and the Corporation will update the market as developments arise.
It is anticipated that the Corporation's common shares will commence trading again on March 13, 2014.
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: 71 Capital Corp.
For further information: 71 CAPITAL CORP., ERIC ROBLIN, PHONE NO: (416) 941-8811