VANCOUVER, Nov. 2, 2017 /CNW/ - DV Resources Ltd. ("DV" or the "Company") (TSXV – DLV.H) announces that, due to certain conditions precedent to its proposed business combination transaction with DeepGreen Resources Inc. ("DeepGreen"), which was originally announced by DV on May 30, 2017, remaining unfulfilled, and by mutual agreement, DeepGreen and DV have allowed the amalgamation agreement to lapse as of October 31, 2017.
DeepGreen has advised DV that it has determined to raise capital privately and postpone its going public process.
The Company further announces the resignation of Brian Paes-Braga as Director, and Melinda Coghill as CFO and Corporate Secretary. Jasvir Kaloti has been appointed CFO and Corporate Secretary of the Company.
Trading in the common shares of the Company which was halted on announcement of the proposed transaction will resume trading on Monday, November 6, 2017.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE DV Resources Ltd.
For further information: DV Resources Ltd., Jasvir Kaloti, CFO and Corporate Secretary, Tel: (604) 609-6138