TORONTO, ONTARIO--(Marketwire - March 26, 2013) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES.
Vector Resources Inc. ("Vector") (TSX VENTURE:VCR.P) announces that, further to its press releases of November 13, 2012 and January 15, 2013, Vector and Oriana Technologies Inc. ("Oriana") have entered into an agreement to extend the deadline for the completion of Vector's acquisition of Select-TV Solutions Inc. ("Select-TV") pursuant to the letter of intent dated November 12, 2012 between Vector and Oriana (the "LOI").
Pursuant to the LOI (as amended), Vector proposes to acquire Select-TV who, at the time of acquisition, shall be the parent corporation of Oriana Technologies, Inc. (Florida) ("Oriana USA"), itself, the parent corporation of Oriana, the operating company (the "Transaction"). The Transaction, which was initially required to close by February 15, 2013, is now required to close by June 1, 2013.
If completed, the Transaction will serve as Vector's qualifying transaction pursuant to the policies of the TSX Venture Exchange.
Darryl Levitt, President & Chief Executive Officer
VECTOR RESOURCES INC.
This press release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this press release includes but is not limited to the Transaction, as well as the deadline for completion thereof. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the parties' failure to complete the Transaction as currently proposed or at all . Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this press release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this press release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.