VANCOUVER, Nov. 5, 2013 /CNW/ - Pure Energy Minerals
Limited. (TSX-V.PE) ("PURE"). Further to PURE's news release
of June 12, 2013 announcing the
execution of a non-binding letter of intent (the "LOI") by
PURE and Pathion Inc. ("PATHION") to complete a transaction
that would result in PURE and PATHION combining business operations
(the "Transaction"), the parties have agreed to extend the
date by which the obligations set out in the LOI, including signing
of an arrangement agreement must be completed, to December 31, 2013.
Completion of the Transaction is subject to a number of
conditions, including, but not limited to, TSX Venture Exchange
acceptance (the "Exchange") and if applicable pursuant to
Exchange requirements, shareholder approval. If shareholder
approval is required, the Transaction cannot close until it is
obtained. The Transaction is also subject to standard closing
conditions, including the approval of the directors of each of PURE
and PATHION of the definitive agreement and completion of due
diligence investigations to the satisfaction of each of PURE and
PATHION. The legal structure for the Transaction will be determined
after the parties have considered all applicable tax, securities
law and accounting efficiencies.
About PURE
PURE is an innovative junior mining company based in
Vancouver, British Columbia,
Canada. Currently PURE is focusing its efforts on lithium mining
opportunities and related technologies. PURE's Alkali Flats Project
in Esmeralda County
Nevada represents approximately 2240 acres in proximity
to the Clayton Valley Playa. The area is
home to the Silver Peak lithium mine operated by Rockwood
Lithium.
About Pathion
Pathion, Inc. is an energy solutions company, headquartered in
Los Gatos, California, created to
research,develop and commercialize products utilizing its
proprietary Advanced Energy Cell technologies,advanced materials,
and processes for improving the stability, conductivity, and energy
density of materials used in energy devices. Pathion's
technology and processes are based upon certain
advanced materials developed at, and obtained from, one of the
leading national research institutions in the United States.
We seek Safe Harbor. Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Pure Energy Minerals Limited