Sagittarius Announces Further Amendments to Its Agreement With Alpaca
11 Novembro 2010 - 5:01PM
Marketwired
Sagittarius Capital Corp. (TSX VENTURE: SCX.H) ("Sagittarius" or
the "Corporation"), a capital pool company which entered a Letter
of Intent September 1, 2010 (the "Letter of Intent") with Alpaca
Resources Inc. ("Alpaca" or the "Company" and together with
Sagittarius, the "Parties") to acquire all of the issued and
outstanding securities of Alpaca (the "Qualifying Transaction" or
"QT"), is pleased to announce that the Parties agree to further
amend the Letter of Intent to extend the due diligence and certain
other conditions provided for in paragraphs 13 to December 31,
2010.
More specifically, the Parties have agreed to extend the
deadline from October 31, 2010 until December 31, 2010 to complete
a financial and legal due diligence investigation of Alpaca, obtain
from Sagittarius and the Company all director, shareholder, and
Exchange approvals as required under applicable laws and regulatory
policies, as well as negotiate, execute and deliver the formal
amalgamation agreement. All other terms, conditions, and provisions
of the Letter of Intent will remain in full force and effect.
About Alpaca
Alpaca is a mineral exploration and development company with
advanced and early stage copper and gold exploration properties,
primarily in the Western United States. Alpaca's copper portfolio
consists of the Hill Copper and Troy Ranch projects in Arizona.
Alpaca's gold portfolio consists of the Iron Butte project in
Nevada and the Pataz project in the Peru.
Completion of the Qualifying Transaction is subject to a number
of conditions including, but not limited to, Exchange acceptance
and if applicable pursuant to Exchange Requirements, majority of
the minority shareholder approval. Where applicable, the Qualifying
Transaction cannot close until the required shareholder approval is
obtained. There can be no assurance that the Qualifying Transaction
will be completed as proposed, or at all.
Investors are cautioned that, except as disclosed in the 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 highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the
merits of the proposed transaction and has neither approved nor
disapproved the contents of this press release.
Neither TSX Venture Exchange Inc. nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange Inc.) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Sagittarius Capital Corporation: Robin M. Sundstrom
(647) 822-8111 robin@ironsideir.com Alpaca Resources Inc.: Yannis
Banks (416) 777-6169 ybanks@foundationmarkets.com
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