VANCOUVER, British Columbia, Jan. 15, 2019 (GLOBE NEWSWIRE) -- Pedro Resources Ltd. (TSXV: PED.H) (the “Company”) announces that the definitive purchase agreement entered into with Colorado Vanadium Corp. (“Colorado Vanadium”), and its shareholders, has been terminated effective immediately. In connection with the proposed acquisition of Colorado Vanadium, no funds were advanced to Colorado Vanadium or any of its related parties and the Company did not assume any contingent liabilities or guarantees. For further information concerning the definitive purchase agreement entered into with Colorado Vanadium, readers are encouraged to review the Company’s news release of July 16, 2018.
The Company has requested that trading in its common shares resume on the TSX Venture Exchange, and will issue a further news release once the effective date for the resumption has been confirmed.
Following the resumption of trading, the Company expects to resume its review of potential strategic transactions and acquisition opportunities. This review may include transactions outside of the resource sector, and the Company will provide further information on this review as it progresses.
For further information, contact Glenda Kelly, Corporate Communications, at 403.830.1436 or visit the Company’s website at www.pedroresources.ca.
On behalf of the Board,
Pedro Resources Ltd.
Glenda Kelly, Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.