OTTAWA, June 21 /CNW Telbec/ - Oculus Ventures Corporation ("Oculus") (TSX Venture: OVX.P), a capital pool company as defined under Policy 2.4 of the TSX Venture Exchange (the "TSXV") today announced that it has filed a filing statement on www.SEDAR.com. The Filing Statement is filed pursuant to the policies of the TSXV and provides information in respect of Oculus' proposed acquisition of the following privately owned companies:
(i) Balimore Limited and its wholly owned subsidiary Powerbase Energy
(ii) 1384694 Ontario Inc. and its wholly owned subsidiary Sequence
Controls Inc., and
(iii) Sequence Electronics Inc.
The parties will now work toward closing the transaction. Pursuant to the policies of the TSXV, closing can occur no earlier than seven business days after the date hereof and the parties are targeting a closing before the end of June.
Completion of the transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable pursuant to Exchange Requirements (as such term is defined under the TSXV policies), majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
SOURCE OCULUS VENTURES CORPORATION
For further information: For further information: Oculus Ventures Corporation, John Gabriel, President and CEO, 613-789-8080, email@example.com