Business & Finance
Business and Finance
Business and Finance
Mon, August 8, 2011
Sun, August 7, 2011
Sat, August 6, 2011
Fri, August 5, 2011 JBZ Capital Inc. advises that the proposed acquisition will not proceed.
VANCOUVER, Aug. 5, 2011 /CNW/ - Further to its news release of July 29, 2011, JBZ Capital Inc. (TSX-V: JBZ) ("JBZ") wishes to advise that the proposed acquisition of Fertoz Pty Ltd. ("Fertoz") will not proceed. JBZ and Fertoz had been in active discussions to restructure the terms of their proposed transaction but were unable to agree terms that met the needs of both parties.
"We are disappointed that we could not conclude a transaction with Fertoz. We will explore other acquisition opportunities in the future and in the near term we will continue to focus on our Phase 1 exploration program" stated Nigel Gellard, President and CEO of JBZ.
As previously announced, JBZ advanced AUD$500,000 to Fertoz by way of a secured bridge loan. This loan remains outstanding and is to be repaid in full on September 30, 2011.
JBZ will request the TSXV to lift the trading halt on its stock as soon as possible.
ON BEHALF OF THE BOARD OF DIRECTORS
JBZ CAPITAL INC.
Nigel Gellard
President, CEO and Director
Investors are cautioned that trading in securities of JBZ Capital Inc. should be considered highly speculative.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction described herein and has neither approved nor disapproved the contents of this news release.
Neither 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 news release.
Special Note Regarding Forward-Looking Statements
Certain statements included herein constitute forward-looking statements. The words "expect", "intend", "anticipate", "propose" and "may" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding JBZ. Forward-looking statements are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of JBZ, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks and accordingly may not occur as described herein or at all. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
