VANCOUVER, Nov. 5, 2013 /CNW/ - Pure Energy Minerals Limited. (TSX-V.PE) ("PURE"). Further to PURE's news release of June 12, 2013 announcing the
execution of a non-binding letter of intent (the "LOI") by PURE and Pathion Inc. ("PATHION") to complete a transaction that would result in PURE and PATHION
combining business operations (the "Transaction"), the parties have agreed to extend the date by which the obligations
set out in the LOI, including signing of an arrangement agreement must
be completed, to December 31, 2013.
Completion of the Transaction is subject to a number of conditions,
including, but not limited to, TSX Venture Exchange acceptance (the "Exchange") and if applicable pursuant to Exchange requirements, shareholder
approval. If shareholder approval is required, the Transaction cannot
close until it is obtained. The Transaction is also subject to standard
closing conditions, including the approval of the directors of each of
PURE and PATHION of the definitive agreement and completion of due
diligence investigations to the satisfaction of each of PURE and
PATHION. The legal structure for the Transaction will be determined
after the parties have considered all applicable tax, securities law
and accounting efficiencies.
PURE is an innovative junior mining company based in Vancouver, British
Columbia, Canada. Currently PURE is focusing its efforts on lithium
mining opportunities and related technologies. PURE's Alkali Flats
Project in Esmeralda County Nevada represents approximately 2240 acres
in proximity to the Clayton Valley Playa. The area is home to the
Silver Peak lithium mine operated by Rockwood Lithium.
Pathion, Inc. is an energy solutions company, headquartered in Los
Gatos, California, created to research,develop and commercialize
products utilizing its proprietary Advanced Energy Cell
technologies,advanced materials, and processes for improving the
stability, conductivity, and energy density of materials used in energy
devices. Pathion's technology and processes are based upon certain
advanced materials developed at, and obtained from, one of the leading
national research institutions in the United States.
We seek Safe Harbor. 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: Pure Energy Minerals Limited
For further information:
Suite 1780 - 355 Burrard Street
Telephone: (604) 608-6611
Facsimile: (604) 608-6620
Please visit the Company's web site at www.pureenergyminerals.com or write us at firstname.lastname@example.org.