TORONTO, Feb. 15, 2019 /CNW/ - Continental Precious
Minerals Inc. (NEX-CZQ.H) ("Continental" or the
"Company") announces that it has terminated an agreement
with respect to a potential reverse takeover transaction involving
High Speed Interconnects, Inc. ("HSI"), a company
headquartered in Scottsdale,
Arizona, which extrudes and assembles high-performance RF
microwave coaxial cable ranging from 16 to 52 AWG. HSI's low-loss, low-capacitance, phase
and amplitude stable coaxial cables are available as SMA, SMP, SSMP
assemblies; micro coaxial cable assemblies as small as 0.275mm in
pitch; and fine wire, direct-to-board coaxial cable assemblies as
small as 0.100mm in pitch.
The parties had entered into a letter of intent in December 2018, which was binding on HSI and its
principals but not binding on Continental. The parties
subsequently entered into a definitive binding agreement on
January 24, 2018. Prior to
Continental issuing a press release announcing the transaction,
which had been approved by all parties, HSI and its principals
communicated to Continental that they wanted to change certain
terms of the transaction. As a result of HSI breaching the
terms of the agreements between the parties, Continental has
terminated the definitive agreement.
The Company is currently considering its options with respect to
its contractual arrangements among HSI and its principals.
Further updates will be provided as they become available.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this news
release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements. All
statements other than statements of historical fact are
forward-looking statements. The words "expect," "intend" and
similar expressions are intended to identify forward-looking
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such identifying words. These statements may relate to business
strategy, future operations, prospects, plans and objectives of
management, as well as information concerning expected actions of
third parties. All forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from those set forth in, or implied by, such forward-looking
statements.
SOURCE Continental Precious Minerals Inc.