TORONTO, Nov. 27 /CNW/ - SilverBirch Inc. (TSX-V: SVB) today announced that due to the recent uncertainties in the capital markets and the senior secured lender collecting on its security, there is no funding in place for the Company to operate and meet its on-going financial obligations. In addition, the Company has received a default and termination notice from G4Box Inc., its co-publisher, which terminates the licence agreements relating to the two on-line multiplayer games being operated and developed.
As a result of these events, all of the Company's 4 directors have resigned effective November 27, 2008.
Cautionary Notes: The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the content of this news release.
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