Vesta Capital Corp. (TSX VENTURE: VES.P) Announces Termination of Proposed Qualifying Transaction With 3G Solar, Ltd.
June 01 2009 - 10:13AM
Marketwired
On May 26, 2009, 3G Solar, Ltd. ("3G") advised Vesta Capital Corp.
("Vesta") (TSX VENTURE: VES.P), that it had elected not to proceed
with the proposed qualifying transaction which was first described
in Vesta's press release dated November 10, 2008 (the "QT").
In connection with the proposed QT, Vesta had made a secured
loan in the principal amount of $225,000.00 CAD to 3G. In light of
3G's termination, Vesta will be seeking immediate repayment of the
loan. In addition, Vesta will seek reimbursement from 3G, for its
out-of-pocket costs incurred in connection with the proposed QT,
from 3G.
Vesta will immediately begin to actively seek out other
candidates for a new qualifying transaction.
For Investors
This press release may include statements about expected future
events and/or financial results that are forward-looking in nature
and subject to risks and uncertainties. Vesta cautions that actual
performance will be affected by a number of factors, many of which
are beyond its control. Future events and results may vary
substantially from what Vesta currently foresees. Discussion of the
various factors that may affect future results is contained in
Vesta's recent filings, available on SEDAR.
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.
Contacts: Vesta Capital Corp. Harold Wolkin President, Chief
Financial Officer and Corporate Secretary 416-485-0980
harold.wolkin@sympatico.ca
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