GUELPH, ON, Nov. 29 /CNW/ - ENPAR Technologies Inc. (TSX-V: ENP) ("ENPAR") is pleased to announce that Dundarave Resources Inc. (TSX-V: DDX) ("Dundarave") has demonstrated its commitment to completing the definitive patent and technology license agreement (the "Agreement") by obtaining the conditional approval for the transaction from the TSX Venture Exchange.
The TSX Venture Exchange has determined that the transaction is a Fundamental Acquisition (as defined in TSX Venture Exchange Policy 5.3) and requires that Dundarave obtain shareholder approval for the transaction, since there is potential for a change of control.
Dundarave wil provide its shareholders with a disclosure document in order to obtain their written consent for approval of the transaction. The TSX Venture Exchange has issued conditional approval for the transaction with final approval contingent on acceptance by at least 50% of the Dundarave shareholders.
The final approval of the transaction wil pave the way for the Optimization and Design Program, which is focussed on reactor design and the iron/nickel separation process. Upon its completion, ENPAR wil produce design specifications for all aspects of the Demonstration Plant, including leaching, metal separation, metal recovery and acid recovery.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
ENPAR is a "Technology Company" applying its patented and proprietary "Electrochemical Technologies" to the treatment of waste water and drinking water contaminated by metals or nutrients i.e., nitrate/ammonia associated with the mining, metal processing, chemical, agricultural, municipal and waste management sectors. The common shares trade on Tier II of the TSX Venture Exchange under the symbol "ENP".
This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause ENPAR Technologies Inc. results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof.