Newstrike Capital Inc.
TSX VENTURE : NES.H

Newstrike Capital Inc.

August 09, 2007 17:21 ET

Newstrike Capital Inc.: Termination of Proposed Acquisition of Stans Energy Corp.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 9, 2007) -

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

Bill McCartney, President of Newstrike Capital Inc. (TSX VENTURE:NES.H) (the "Company" or "Newstrike"), announces that, as a result of current market conditions, Newstrike and Stans Energy Corp. have agreed to terminate their letter agreement and not to proceed with the transaction.

Newstrike will also not be proceeding with the $20 million financing announced on the same date.

The directors of Newstrike will request that the shares of the Company be brought back to trading on the TSX Venture Exchange and will continue with their ongoing efforts to find a suitable asset or business to acquire.

ON BEHALF OF NEWSTRIKE CAPITAL INC.

Bill McCartney, President

Forward-Looking Statements

Any statements made in this press release which are not statements of historical facts may constitute "forward-looking statements", including those concerning the Company's goals, assumptions or expectations. Forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ including, but not limited to receipt of necessary regulatory and shareholder approvals required to complete the Acquisition and financing.

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

Contact Information

  • Newstrike Capital Inc.
    Bill McCartney
    President
    (604) 687-0888