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Canada: Universal Ventures terminates Promitheas deal

By  |  October 2, 2016

Universal Ventures Inc. announced that further to its announced acquisition agreement dated June 22, 2016 with Promitheas Int’l Ltd., a private United Kingdom company, and its shareholders that stated that Universal was to acquire all of the issued and outstanding shares of Promitheas has been terminated in accordance with its terms as the Proposed Transaction was not completed by September 30, 2016.

Universal also announced that it will not be proceeding with the private placement financing it was to undertake in connection with the proposed transaction.

As a result, Universal will seek out and evaluate new opportunities and will update its shareholders of further prospects that may materialize. Universal will request that its common shares be reinstated for trading as soon as possible.

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