Cairo Announces Transfer to NEX Board
May 07 2014 - 11:07AM
Marketwired
Cairo Announces Transfer to NEX Board
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 7, 2014) - Cairo
Resources Inc. (TSX-VENTURE:QAI.P) ("Cairo" or the "Company")
announces that it continues to work toward completion of its
previously announced qualifying transaction with Socialitize
Limited. However given that the Company has exceeded its 24 month
deadline to complete a QT, including extended deadlines, the TSX
Venture Exchange ("TSXV") has required the Company to transfer its
listing from the Tier 2 board of the TSXV to the NEX board.
At an annual and special meeting of its shareholders held on
November 27, 2013, the Company received majority disinterested
shareholder approval to transfer to the NEX board; and conditional
upon listing on the NEX board, to cancel 1,000,001 common shares
held in escrow. The Company has made application to the TSXV for
transfer to NEX which has been accepted, and the TSXV has advised
that it will be issuing a bulletin shortly after this news release
is disseminated. The Company's trading symbol will change from
"QAI.P" to "QAI.H". There will be no change to its CUSIP number.
The Company's shares will remain suspended from trading pending
completion of the qualifying transaction with Socialitize Limited,
or a termination of the transaction subject to the satisfactory
review by the TSXV of an application from the Company.
Kal Malhi, President, CEO and Director
NEITHER THE
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.
Statements in this press release relating to the completion of
the proposed acquisition of Socialitize Limited, including
completion of the concurrent financings, may be "forward-looking
statements" or "forward-looking information" under applicable
securities laws. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of Cairo Resources Inc. There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to
differ materially from the Company's plans or expectations include
market prices; availability of capital and financing; general
economic, market or business conditions; receipt of necessary
minority shareholder approvals; receipt of and timeliness of
government or regulatory approvals; regulatory changes; and other
risks detailed herein and from time to time in the filings made by
the Company with securities regulators. The Company expressly
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise except as otherwise required by
applicable securities legislation.
Cairo Resources Inc.604-646-1553
Cairo Resources Ltd (TSXV:QAI.P)
Historical Stock Chart
From May 2024 to Jun 2024
Cairo Resources Ltd (TSXV:QAI.P)
Historical Stock Chart
From Jun 2023 to Jun 2024