CALGARY, ALBERTA--(Marketwire - Nov. 16, 2011) - Detector Exploration Ltd. ("Detector" or the "Corporation") (TSX VENTURE:DEX) announces that, further to its news release of August 29th, 2011, due to market conditions, the proposed transaction the Corporation was contemplating presenting to its shareholders has lapsed and been terminated. As a result, the Corporation has no intention of rescheduling a new special shareholder meeting as previously announced.
The Corporation's shares listed on the TSX Venture Exchange were halted from trading on August 3rd, 2011, pending the dissemination of a comprehensive news release describing the proposed transaction. Further, it is expected that with this announcement of the termination of the proposed transaction, the Corporation expects that its shares will resume trading on or about November 17th, 2011.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDED (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contact Information:
Ronald E. Alexander
President
(403) 264-1880
(403) 265-9105 (FAX)
detectorex@shaw.ca
Detector Exploration Ltd.
Suite 1020, 736 - 6th Avenue S.W.
Calgary, Alberta, T2P 3T7