Karsten Energy Corp.
TSX VENTURE : KAY

September 28, 2016 17:07 ET

Karsten Energy Corp. Terminates Proposed Business Combination With Heart Force Medical Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 28, 2016) - Karsten Energy Corp. (TSX VENTURE:KAY) ("Karsten" or the "Company") and Heart Force Medical Inc. ("HFM") have mutually agreed to terminate the previously announced letter of intent which contemplated Karsten acquiring all of the outstanding securities of HFM.

In the course of completing due diligence it was determined by both parties that additional indeterminate time was necessary to complete the conditions precedent and, as a consequence, it was in both parties' interest to terminate the agreement at this time.

Karsten has requested the TSX Venture Exchange to reinstate its shares for trading and is actively pursuing the acquisition of another mining exploration or development property.

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

  • Karsten Energy Corp.
    Murray Oliver
    President and Chief Executive Officer
    604-687-0888
    mjo@pemcorp.com