MONTREAL, April 24 /CNW Telbec/ - Sofame Technologies Inc. (TSX-V: SDW)
announces that it has decided not to proceed with the previously-announced
proposed acquisition of TransPacific Energy Inc.
On March 2, 2009, Sofame announced the preliminary terms of the proposed
acquisition of TransPacific Energy. As stated in the press release, the
proposed acquisition was subject to a series of conditions, including the
completion of satisfactory legal, accounting and financial due diligence and
the entering into of definitive agreements. Sofame completed its due diligence
investigation of TransPacific Energy and was satisfied with the results
thereof; unfortunately, Sofame was not able to agree to satisfactory
commercial terms with TransPacific Energy.
Sofame will continue to consider strategic acquisition opportunities,
should they arise.
Neither 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.
For further information:
For further information: Stone Communication Services: Brian Edelstein,
(416) 364-9188, 1-800-336-9528, Fax: (416) 364-8456, email@example.com;