Mainstream Minerals Corporation

Mainstream Minerals Corporation

April 29, 2014 16:00 ET

Mainstream Files Lawsuit Against Champagne Resources

TORONTO, ONTARIO--(Marketwired - April 29, 2014) - Mainstream Minerals Corporation (TSX VENTURE:MJO) ("Mainstream" or the "Company") announces that it has received notice from Champagne Resources Limited ("Champagne") that Champagne has terminated the amalgamation agreement (the "Amalgamation Agreement") dated March 12, 2014, between Mainstream, Champagne and a wholly-owned subsidiary of Mainstream pursuant to which Mainstream intended to acquire all of the issued and outstanding shares of Champagne.

Mainstream has filed a lawsuit in the Ontario Superior Court of Justice against Champagne and its directors alleging that Champagne and its directors are in breach of the terms of the Amalgamation Agreement. Mainstream is, among other things, seeking specific performance under the Amalgamation Agreement.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release and has in no way passed upon the merits of the Transaction and has neither approved nor disapproved of the contents of this press release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Contact Information

  • Mainstream Minerals Corporation
    David Reid
    President & Chief Executive Officer