TSX Venture Exchange Trading Symbol: PLN.P
VANCOUVER, Aug. 24 /CNW/ - Palatine Capital Corp. ("Palatine" or
"Company") is pleased to announce the signing of a Letter of Intent
Extension Agreement ("Extension Agreement") dated August 13, 2010
between Palatine and Pypeline Health Inc. DBA DigitalShelfSpace
("Pypeline"). By press release dated June 14, 2010, Palatine announced
that it had entered into a Letter of Intent ('"LOI") with Pypeline dated
June 13, 2010.
Section 8 "Closing" of the LOI stated that "The terms of this Letter of
Intent will be of no further force or effect (except for S.2
(Confidentiality) and S.5 (Expenses)), if a Definitive Agreement is not
executed within 60 days from the date of this Letter of Intent and if
the QT is to not consummated 60 days thereafter."
Pursuant to the Extension Agreement, the deadline for executing the
Definitive Agreement contemplated in the LOI will now be extended to
5:00 p.m. October 12, 2010, Vancouver time, and the deadline for
consummation of the Qualifying Transaction will be extended to 5:00 p.m.
February 12, 2011.
On behalf of the Board of Directors
Thomas Lamb, Director and CEO
The Company completed its initial public offering in May, 2010 and is
designated as a Capital Pool Company by the TSX Venture Exchange. The
Company has not commenced commercial operations and has no assets other
than cash. For further information regarding the Company, see the
Company's profile on SEDAR at href="http://www.sedar.com/">www.sedar.com.
This news release does not constitute on offer to sell or a solicitation
of an offer to sell any of the securities in the United States. The
securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within the
United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption from
such registration is available.
Completion of the transaction is subject to a number of conditions,
including but not limited to, TSX Venture Exchange acceptance. 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
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 PALATINE CAPITAL CORP.
For further information: For further information:
Thomas Lamb at 604-762-8682, email: email@example.com