VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 6, 2014) -
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Nebo Capital Corp. (the "Corporation") (TSX VENTURE:NBO.P) wishes to announce that the letter of intent dated November 29, 2013 (the "Letter of Intent") between the Corporation, Lara Exploration Ltd. ("Lara") and privately held Kiwanda Mines (NA) LLC ("Kiwanda"), relating to the proposed acquisition of interests held in certain mineral exploration properties and assets in Colombia (the "Proposed Acquisition"), has expired and the Corporation has determined that it does not intend to pursue the Proposed Acquisition further.
The Corporation is a "capital pool company" within the meaning of the policies of the TSX Venture Exchange ("TSXV") and has not commenced commercial operations and has no assets other than cash. The Corporation will continue to pursue and evaluate other businesses and assets with a view to completing a "Qualifying Transaction", as such term is defined under the policies of the TSXV, and looks forward to announcing a potential acquisition in the near future.
At a later date, the Corporation may re-examine the Proposed Acquisition or a similar transaction with Lara or Kiwanda, or both, and the potential of such a transaction as the Qualifying Transaction of the Corporation.
The Corporation has cancelled 575,000 escrowed shares and made an application with the Exchange for a transfer to NEX and a resumption to trading of the shares of the Corporation which the Exchange has advised has been accepted. The Exchange will be issuing a bulletin soon on the resumption of trading of the Corporation's shares and its trading symbol will be changed from NBO.P to NBO.H.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The Corporation cannot offer any assurances that a Qualifying Transaction will be completed. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Neither 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.