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Slideshow Mergers & Acquisitions

By The Online Investor Staff, updated Mon., Jun. 27, 12:42 PM

Slide #3. Universal Ventures Inc. Promitheas Int'l Ltd.

Acquirer: Universal Ventures Inc. (CVE:UN.CA)
Acquiree: Promitheas Int'l Ltd.
Details: Universal Ventures Inc. (the "Corporation" or "Universal") (TSX VENTURE:UN) is pleased to announce that it has executed a definitive acquisition agreement (the "Acquisition Agreement") dated June 22, 2016 with Promitheas Int'l Ltd. ("Promitheas"), a private company incorporated pursuant to the laws of the United Kingdom, and its shareholders (the "Promitheas Shareholders") pursuant to which Universal is to acquire all of the issued and outstanding shares of Promitheas (the "Promitheas Shares").

Universal Ventures is an exploration stage company. Co. has not yet determined whether the property contain ore reserves that are economically recoverable. The recoverability of amounts shown for exploration and evaluation assets is dependent upon the discovery of economically recoverable reserves, confirmation of Co.'s interest in the underlying mineral claims, the ability of Co. to obtain the necessary financing to complete the development, and upon future profitable production from the properties or realizing proceeds from their disposition.

Open the UN.CA Page at The Online Investor »

Company Name:  Universal Ventures Inc
Sector:  Precious Metals

Open the UN.CA Page at The Online Investor (in a new window) »

June 27, 2016    12:42 PM Eastern
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