Business
Phoenix Canada Oil Company Limited and VMedia Inc. Proposed Transaction Update
TORONTO, ON / ACCESSWIRE / November 23, 2018 / Phoenix Canada Oil Company Limited (TSX-V:P...
About this update from Zyus Life Sciences Corporation
[{"type":"text","content":"Phoenix Canada Oil Company Limited and VMedia Inc. Proposed Transaction UpdateTORONTO, ON / ACCESSWIRE / November 23, 2018 / Phoenix Canada Oil Company Limited (TSX-V:PCO) (\"Phoenix\" or the \"Company\")is pleased to provide an update to the Company's previously announced non-bindingletter of intent (the \"LOI\") dated October23, 2018 with VMedia Inc., a private Canadian corporation (\"VMedia\") that offers telecom andbroadcasting services across Canada as described in its press release datedOctober 24, 2018.The Company and VMedia areworking diligently to advance this transaction including the ongoingnegotiation of a definitive agreement and obtaining all required regulatoryapprovals.Neither the TSXV nor its Regulation Services Provider (as that termis defined in the policies of the TSXV) has in any way passed upon the meritsof the Proposed Transaction and associated transactions and neither of theforegoing entities has in any way approved or disapproved of the contents ofthis press release.Forward-Looking StatementsThis news release contains \"forward-looking information\"within the meaning of applicable securities laws relating to the ProposedTransaction including statements regarding the terms and conditions of theProposed Transaction and the LOI, as well as information relating to VMedia.The information about VMedia contained in the press release has not beenindependently verified by the Company. Although the Company believes in lightof the experience of its officers and directors, current conditions andexpected future developments and other factors that have been consideredappropriate, that the expectations reflected in this forward-lookinginformation are reasonable, undue reliance should not be placed on them becausethe Company can give no assurance that they will prove to be correct. Readersare cautioned to not place undue reliance on forward-looking information.Actual results and developments may differ materially from those contemplatedby these statements depending on, among other things, the risks that theparties will not proceed with the Proposed Transaction and the LOI; that theultimate terms of the Proposed Transaction and the LOI will differ from thosethat currently are contemplated; and that the Proposed Transaction and the LOIwill not be successfully completed for any reason (including the failure toobtain the r...