Business
Pure Energy Minerals Limited and Pathion Inc. Extend Letter Of Intent
VANCOUVER , Nov. 5, 2013 /CNW/ - Pure Energy Minerals Limited. (TSX-V.PE) (" PURE "). Fu...
About this update from Pure Energy Minerals Ltd.
[{"type":"text","content":"\n\n\nVANCOUVER, Nov. 5, 2013 /CNW/ - Pure Energy Minerals Limited. (TSX-V.PE) (\"PURE\"). Further to PURE's news release of June 12, 2013 announcing the\n 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\n combining business operations (the \"Transaction\"), the parties have agreed to extend the date by which the obligations\n set out in the LOI, including signing of an arrangement agreement must\n be completed, to December 31, 2013.\n\n\nCompletion of the Transaction is subject to a number of conditions,\n including, but not limited to, TSX Venture Exchange acceptance (the \"Exchange\") and if applicable pursuant to Exchange requirements, shareholder\n approval. If shareholder approval is required, the Transaction cannot\n close until it is obtained. The Transaction is also subject to standard\n closing conditions, including the approval of the directors of each of\n PURE and PATHION of the definitive agreement and completion of due\n diligence investigations to the satisfaction of each of PURE and\n PATHION. The legal structure for the Transaction will be determined\n after the parties have considered all applicable tax, securities law\n and accounting efficiencies.\n\n\nAbout PURE\n\n\nPURE is an innovative junior mining company based in Vancouver, British\n Columbia, Canada. Currently PURE is focusing its efforts on lithium\n mining opportunities and related technologies. PURE's Alkali Flats\n Project in Esmeralda County Nevada represents approximately 2240 acres\n in proximity to the Clayton Valley Playa. The area is home to the\n Silver Peak lithium mine operated by Rockwood Lithium.\n\n\nAbout Pathion\n\n\nPathion, Inc. is an energy solutions company, headquartered in Los\n Gatos, California, created to research,develop and commercialize\n products utilizing its proprietary Advanced Energy Cell\n technologies,advanced materials, and processes for improving the\n stability, conductivity, and energy density of materials used in energy\n devices. Pathion's technology and processes are based upon certain\n advanced materials developed at, and obtained from, one of the leading\n national research institutions in the United States.\n\n\nWe seek Safe Harbor. Neither TSX Venture ...