Lander Energy Corporation

January 19, 2010 13:33 ET

Lander Energy Corporation Announces Termination of Qualifying Transaction With Heathercrest Energy Ltd.

TORONTO, ONTARIO--(Marketwire - Jan. 19, 2010) - LANDER ENERGY CORPORATION ("Lander")(TSX VENTURE:LAE.P) announces, further to its press release dated December 19, 2008, that Lander and Heathercrest Energy Ltd. ("Heathercrest") have agreed to dissolve the share exchange agreement dated November 21, 2008 between Lander and Heathercrest and consequently terminate the proposed business combination. Lander did not advance any funds to Heathercrest in connection with the proposed business combination.

Trading of Lander's common shares will be reinstated on January 21, 2010 as Lander proceeds with identifying and evaluating alternative opportunities for the acquisition of an interest in properties, corporations, assets or businesses for the purpose of completing its Qualifying Transaction in accordance with TSX Venture Exchange Policy 2.4 concerning Capital Pool Companies.

This press release contains "forward looking information" (as defined in applicable Canadian securities legislation) that is based on expectations, estimates and projections as of the date of this press release. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company is forward looking information that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking information: changes in the world wide price of commodities, general market conditions, risks inherent in exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. The Company relies on litigation protection for forward looking information.

Neither 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

  • Lander Energy Inc.
    David Wood
    President and CEO
    (604) 720-7307