Update of Qualifying Transaction Between CJL Capital Inc and Alta Resources Inc.
(firmenpresse) - QUEBEC CITY, QUEBEC -- (Marketwire) -- 09/21/11 -- Mario Jacob, President, CEO and Secretary of CJL Capital Inc. ("CJL") (TSX VENTURE: CJL.P), a capital pool company, wishes to proceed with a shareholder update on the qualifying transaction ongoing process with Alta Resources Inc. ("Alta") announced on October 27, 2010. Alta is a private company working in the field of mineral exploration and has properties located in Peru.
CJL clarifies that the Qualifying Transaction with Alta has been subject to a due diligence and that a filing statement was filed for approval with the regulatory authorities.
Due diligence and feedback from the regulatory authorities have among others required that Alta makes various changes with respect to its corporate structure involving its Peruvian subsidiary Altiplano Minerales SAC ("Altiplano") and its Peruvian partner Kori Peru SAC.
The steps to change the corporate structure in Peru have led to delays and are currently on going with legal advisors in this country. In addition, Alta, through its subsidiary Altiplano, has also taken the necessary steps to obtain all necessary permits required by the regulatory authorities.
Alta and CJL remain confident that these structural elements in Peru will be resolved very soon and will be in a position to file an amended filing statement with the regulatory authorities.
Completion of the Qualifying Transaction remains subject to a number of conditions, including without limitation, the consent of the TSX Venture Exchange ("Exchange") and the Autorite des Marches Financiers, the approval of the boards of CJL and Alta and a private placement conducted by Alta, sufficient to meet the minimum listing requirements of the Exchange.
The Exchange has not commented on the merits of the proposed Qualifying Transaction. A more detailed press release will be published later in order to provide additional details on the contemplated Qualifying Transaction. Therefore, the trading on the common shares of CJL will remain halted until the issuance of a press release announcing the resumption of trading.
Investors are cautioned that, except from the information disclosed in the filing statement prepared by the management for purposes of the Qualifying Transaction, any information released or received with respect to the Qualifying Transaction may not be accurate or complete, so investors should not rely on them. Trading in the securities of a capital pool company should be considered highly speculative.
Prospectus CJL Capital inc. can be found on the SEDAR website at:
Contacts:
CJL Capital Inc.- Mario Jacob
President, CEO, Chief Financial Officer, Secretary and
Administrator
(418) 653-9339
(418) 692-3969 (FAX)
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Unternehmensinformation / Kurzprofil:
Datum: 21.09.2011 - 14:12 Uhr
Sprache: Deutsch
News-ID 68262
Anzahl Zeichen: 0
contact information:
Town:
QUEBEC CITY, QUEBEC
Kategorie:
Personal Finance
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"Update of Qualifying Transaction Between CJL Capital Inc and Alta Resources Inc."
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