Google Übersetzer
TORONTO, Dec. 29 /CNW/ - Fareport Capital Inc. (TSX-V; CAB)
Fareport Capital Inc. ("Fareport" or the "Company") wishes to provide an update with regards to its compliance with Ontario Securities Commission ("OSC") Policy 57-603.
Further to the Fareport news release dated December 15, 2006, the Company reports that progress is being made and discussions and negotiations continue with respect to a new financing arrangement with potential arms-length investors however, there can be no assurances of a successful conclusion. The Company hopes to have a tentative agreement negotiated by mid-January 2007. The refinancing would be subject to shareholder and regulatory approval.
Fareport reports that its unaudited financial statements for the three months ended October 31, 2006 and October 31, 2005 and the related Management Discussion and Analysis have been filed on SEDAR.
The Company is up to date with respect to its financial statements and management reporting.
Regarding the previously announced agreement to settle the civil claim against Fareport's former management, advisors and certain investors, the revised settlement agreement should be completed pending closing of a new financing arrangement.
The temporary management and insider cease trade order (the "MCTO") imposed pursuant to OSC Policy 57-603 continues to be in effect. The MCTO prohibits present and certain past directors, officers and insiders of Fareport from trading in securities of Fareport.
Fareport will continue to provide updates on these and related matters in accordance with OSC Policy 57-603.
Neither the TSX Venture Exchange, nor any other Regulatory Authority has approved or disapproved of the contents of this news release. Fareport cannot guarantee that forward-looking statements contained in this news release will materialize. Nor is it possible for Fareport to commit itself to updating information about risks and other factors pertaining to its business that might appear in this or any other public disclosure documents.