Savary Capital Corp.

July 02, 2009 14:24 ET

Savary Capital Corp. Terminates Arrangement Agreement to Acquire Verge Energy Corp.

CALGARY, ALBERTA--(Marketwire - July 2, 2009) - Savary Capital Corp. (the "Corporation" or "Savary") (TSX VENTURE:SCA.P), a capital pool corporation, announces the termination of the arrangement agreement dated April 27, 2009, pursuant to which Savary had conditionally agreed to acquire all of the issued and outstanding shares of Verge Energy Corp. as Savary's qualifying transaction. The acquisition was originally announced in a news release dated May 29, 2009.

Savary is of the opinion that it has adequate funds to pursue other qualifying transaction opportunities. As a result, Savary will resume its process of identifying and evaluating businesses and assets with a view to completing a potential qualifying transaction.

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

  • Savary Capital Corp.
    Harvey Lalach
    (250) 764-9701