Alpha One Corporation

December 14, 2007 15:10 ET

Alpha One Announces Termination of Proposed Merger With Aztek Resource Development Inc.

TORONTO, ONTARIO--(Marketwire - Dec. 14, 2007) - Alpha One Corporation ("Alpha One") (NEX:AOC.H) and Aztek Resource Development Inc. ("Aztek") have mutually agreed to terminate the proposed merger between Alpha One Acquisition Corp., a wholly-owned subsidiary of Alpha One, and Aztek as contemplated in a letter of intent, dated April 3, 2006, between Alpha One and Aztek. The merger and the concurrent equity financing necessary to fund the mineral exploration budget of the resulting issuer would have represented the Qualifying Transaction of Alpha One, a Capital Pool Company.

Alpha One and Aztek were unable to reach an agreement on the terms and conditions of the equity financing and the resulting share structure for the resulting issuer, Aztek Resource Development Corp.

The board of directors of Alpha One will continue to review potential asset purchases or merger opportunities as they present themselves with the objective of completing its Qualifying Transaction on a timely basis.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Alpha One Corporation
    Donald H. Christie, C.A.
    CFO & Director
    (416) 214-4810