Datinvest International Ltd.
NEX BOARD : DAI.H

December 07, 2007 16:27 ET

Datinvest International Ltd. Termination of Proposed Acquisition of 0770728 BC LTD.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 7, 2007) -

NOT FOR DISTRIBUTION TO THE U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

DATINVEST INTERNATIONAL LTD. (NEX:DAI.H) (the "Company") announces that it has terminated the proposed Letter of Intent ("LOI") to acquire 0770728 BC Ltd. as it has been unable to renegotiate the terms of the LOI or execute a definitive agreement.

Originally announced on May 10, 2007, the arm's length transaction together with other transactions contemplated within the LOI would have constituted a Reverse Takeover ("RTO") for the Company. Completion of the RTO was subject to satisfaction of a number of conditions, including, but not limited to, completion of due diligence, execution of a definitive agreement between parties and the receipt of all required approvals, including approval of the TSX Venture Exchange.

The directors of the Company will continue with their ongoing efforts to find a suitable asset or business to acquire.

On Behalf of the Board of Directors

Datinvest International Ltd.

Jason Birmingham, President

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

Contact Information

  • Datinvest International Ltd.
    Jason Birmingham
    President
    (604) 761-3203
    (604) 683-5317 (FAX)