Karus and Kenadyr continue to work to complete the Proposed Transaction and the definitive binding agreement between Karus and Kenadyr (the 'Agreement') remains in force.
Pursuant to the Agreement, Kenadyr will acquire 100% of the issued and outstanding common shares of Karus (the 'Karus Common Shares') via a Kenadyr issuance of common shares resulting in a reverse takeover by Karus (the 'Proposed Transaction'). The resulting issuer will be
The Agreement includes customary termination rights for both Kenadyr and Karus in the event that the Proposed Transaction is not completed by
For more details on the Proposed Transaction, see the previous announcement on
There is no assurance that the Proposed Transaction will be completed as proposed or at all.
None of the securities to be issued pursuant to the Proposed Transaction have been or will be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and any securities issued pursuant to the Proposed Transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
About Karus Gold
Karus Gold is the 100% owner of the 1,000 km2
Contact:
Tel: (888) 455-7620
Email: info@karusgold.com
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as 'will', 'may', 'should', 'anticipate', 'expects', 'suggests' and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the timing and successful completion of the Concurrent Financing and Concurrent Flow-Through Financing (as such terms are defined in Karus' news release dated
Such factors include, among others: the ability to reach agreement to enter into a definitive agreement, the ability to raise the funds required in the Concurrent Financing and Concurrent Flow-Through Financing, the ability to obtain, in a timely manner, all necessary, corporate, regulatory, stock exchange, shareholder and other third-party approvals to consummate the Proposed Transaction and the ability to perform and obtain the stated benefits of the Proposed Transaction.
Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events, or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
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