Beta Minerals Inc.

Beta Minerals Inc.

October 01, 2007 13:41 ET

Beta Terminates Securities Exchange Agreement to Acquire Namibian Westport Ltd.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 1, 2007) - Beta Minerals Inc. ("Beta") (TSX VENTURE:BMI) announces that it has terminated the securities exchange agreement dated July 9, 2007 with Forsys Metals Corp. and Namibian Westport Ltd. ("Namibian"), pursuant to which it had conditionally agreed to acquire all of the issued and outstanding shares of Namibian, as the closing of the acquisition did not occur by September 30, 2007, the termination date provided for in the agreement. As a result, Beta will not proceed with the related transactions announced in its July 10, 2007 news release, including the consolidation and name change.

Trading will resume in the common shares of Beta on the TSX Venture Exchange on October 4, 2007.

Beta continues to explore for expansion and acquisition opportunities.

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

Contact Information

  • Beta Minerals Inc.
    James Currie
    Managing Director
    (604) 685-6580