Everest Ventures Corp.
TSX VENTURE : EVE.P

March 17, 2010 12:42 ET

Everest Ventures Corp. Provides Corporate Update

CALGARY, ALBERTA--(Marketwire - March 17, 2010) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US NEWSWIRES

Everest Ventures Corp. (TSX VENTURE:EVE.P) ("Everest" or the "Corporation"), a capital pool company listed on the TSX Venture Exchange (the "Exchange") announces that, in accordance with Exchange Policy 2.4 (the "CPC Policy"), the Corporation does not expect to complete a Qualifying Transaction (as such term is defined in the CPC Policy) within the timeframe required by the Exchange. Therefore, effective March 22, 2010, it is expected that the Corporation's common shares will be suspended from trading on the Exchange. Management of the Corporation still believes that Everest will be able to complete a transaction that will be beneficial to Everest shareholders and as such, Everest intends to hold an annual general and special meeting for shareholders to consider and if thought fit, approve among other items, the transfer of the listing of Everest's common shares to the NEX (a separate trading board of the Exchange). A management information circular detailing the Corporation's proposed transfer to the NEX is expected to be mailed to shareholders in the future, together with a formal notice of annual general and special meeting.

Statements in this press release may contain forward-looking information including, statements regarding the completion of a transaction and approval by shareholders of the Corporation's planned transfer of the listing of its common shares to NEX. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expects" and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances, such as future availability of capital on favourable terms, may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Everest. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release, and Everest does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Everest Ventures Corp.
    Darcy Krogh
    President and Chief Executive Officer
    (604) 669-4180
    (403) 237-5816 (FAX)
    www.sedar.com