OphiraVencap Inc.
TSX VENTURE : OPV.P

January 16, 2008 12:02 ET

OphiraVencap Inc. Announces the Cancellation of its Proposed Qualifying Transaction

MONTREAL, QUEBEC--(Marketwire - Jan. 16, 2008) - OphiraVencap Inc. ("Ophira") (TSX VENTURE:OPV.P) announced today that, given the current market condition, it has determined not to proceed with the previously announced proposed Qualifying Transaction involving the business combination of North Sea Energy Inc. ("North Sea") with Ophira.

Ophira is currently involved in discussions with respect to a new potential Qualifying Transaction and consequently is of the view that it is in the best interests of its shareholders that the stock of Ophira remains halted until further notice.

The Exchange has neither approved nor disapproved the contents of this release.

Contact Information

  • OphiraVencap Inc.
    Mr. Guy L'Africain
    President
    514-777-9898