VANCOUVER, Feb. 21, 2017 /CNW/ - PMI Resources Ltd.
("PMI" or the "Company") (TSXV: PMI), is
pleased to announce that the TSX Venture Exchange has advised that
trading in the Company's common shares will resume trading
effective at the open of market on Tuesday,
February 21, 2017.
The Company further advises that its proposed acquisition of
PentaNova Energy Corp. (the "Acquisition"), as announced on
January 25, 2017 has not yet closed
and remains subject to completion of definitive documentation and
the approval of the TSX Venture Exchange. The Company anticipates
that closing of the Acquisition will occur in mid-March, 2017.
The Exchange has in no way passed upon the merits of the
Transaction and has neither approved nor disapproved the contents
of this news release. Neither the Exchange nor its Regulation
Services Provider (as that term is defined in policies of the
Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
Forward-Looking Information
Except for the statements of historical fact, this news
release contains "forward-looking information" within the meaning
of the applicable Canadian securities legislation that is based on
expectations, estimates and projections as at the date of this news
release. The information in this news release about the
completion of the Transaction described herein, and other
forward-looking information includes but is not limited to
information concerning the intentions, plans and future actions of
the parties to the transactions described herein and the terms of
the Transaction.
Factors that could cause actual results to differ materially
from those described in such forward-looking information include,
but are not limited to, risks related to the Company's or
PentaNova's inability to satisfy a condition precedent to the
completion of the Transaction (including obtaining necessary
regulatory approvals), other risks related to completion of the
Transaction and risks related to the inability of either of the
Company or PentaNova to perform its respective obligations under
the Transaction.
The forward-looking information in this news release reflects
the current expectations, assumptions and/or beliefs of the Company
based on information currently available to the Company. In
connection with the forward-looking information contained in this
news release, the Company has made assumptions about the Company's
ability to complete the Acquisition and PentaNova's ability to
complete the Block Acquisitions and to perform its obligations
thereunder. The Company has also assumed that no significant events
occur outside of the Company's normal course of business. Although
the Company believes that the assumptions inherent in the
forward-looking information are reasonable, forward-looking
information is not a guarantee of future performance and
accordingly undue reliance should not be put on such information
due to the inherent uncertainty therein.
Any forward-looking information speaks only as of the date on
which it is made and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to
update any forward-looking information, whether as a result of new
information, future events or results or otherwise.
SOURCE PMI Resources Ltd.