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International Sovereign Energy Corp. Announces Proposed Reverse Takeover
International Sovereign Energy Corp. Announces Proposed Reverse Takeover Calgary, Alberta CA...
About this update from Wi2wi Corp.
[{"type":"text","content":"\nInternational Sovereign Energy Corp. Announces Proposed Reverse Takeover\n\nInternational Sovereign Energy Corp. Announces Proposed Reverse Takeover\nCalgary, Alberta CANADA, March 12, 2012 /FSC/ - International Sovereign Energy Corp. (ISR.H - TSX Venture)(\"ISEC\") announces that it has entered into a binding letter of intent with Wi2Wi Corporation (\"Wi2Wi\") pursuant to which ISEC will acquire all of the issued and outstanding shares of Wi2Wi by issuing to the shareholders of Wi2Wi that number of ISEC common shares representing 80% of the issued and outstanding ISEC common shares after giving effect to the transaction (the \"Proposed Transaction\").\nThe Proposed Transaction is expected to be effected by way of a Plan of Arrangement and will constitute a Reverse Takeover as defined in Policy 5.2 of the TSX Venture Exchange Inc. (\"TSXV\").  Completion of the Proposed Transaction is subject to obtaining all necessary shareholder, court and regulatory approvals and certain other terms and conditions, including but not limited to, TSXV approval, completion of satisfactory due diligence investigations and the entering into of definitive agreements.  There can be no assurance that the Proposed Transaction will be completed as proposed or at all.\nInvestors are cautioned that, except as disclosed in the information circular to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon.  Trading in the securities of ISEC should be considered highly speculative.\nThe TSXV has in no way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this press release.\nA comprehensive press release with further particulars relating to the Proposed Transaction will follow in accordance with the policies of the TSXV.  The particulars of any required sponsorship will also be announced in a subsequent press release once they are determined.\nTrading in the ISEC shares has been halted pending the completion of certain due diligence investigations by the TSXV.  There can be no assurance that trading in the ISEC shares will resume prior to the completion or termination of the Proposed Transaction. \nAll informa...