TORONTO, Dec. 17 /CNW/ - NWT Uranium Corp. (TSX-V: NWT; OTCBB: NWURF)
today announced that it has received an unsolicited proposal from a third
party to enter into a transaction pursuant to which that third party would
acquire all of NWT's outstanding shares for consideration consisting of
securities of that third party.
The Board of Directors of NWT have determined, after review, that the
acquisition proposal is unlikely to result in a transaction that is more
favorable to NWT's share holders, from a financial point of view, than the
previously announced transaction with Nu-Mex Uranium Corp. The board has
advised the third party that it does not intend to enter into negotiations
concerning the acquisition proposal.
ABOUT NWT URANIUM:
NWT Uranium Corp. (www.nwturanium.com) is an international resource
exploration company with an experienced, highly technical management team.
Since its inception, NWT has concentrated on the acquisition of properties
with potential uranium targets. NWT Uranium is listed on the NASD Bulletin
Board under the symbol "NWURF" and the TSX Venture Exchange under the symbol
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within
the meaning of the United States Private Securities Litigation Reform Act of
1995. Without limitation, statements regarding potential mineralization and
resources, exploration results, and future plans and objectives of the Company
are forward looking statements that involve various degrees of risk. The
following are important factors that could cause the Company's actual results
to differ materially from those expressed or implied by such forward looking
statements: changes in the worldwide price of mineral commodities, general
market conditions, risks inherent in mineral exploration, risks associated
with development, construction and mining operations, the uncertainty of
future profitability and the uncertainty of access to additional capital.
For further information:
For further information: Marek J. Kreczmer, M.Sc., P.Eng., President and
CEO, NWT Uranium Corp., 1-866-437-9551, email@example.com