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PLX Point Loma Resources Ltd

0.02
0.00 (0.00%)
25 Nov 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Point Loma Resources Ltd TSXV:PLX TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.02 0.01 0.01 0 00:00:00

Printlux Provides Update on Proposed Change of Business

20/08/2007 9:05pm

Marketwired Canada


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


PRINTLUX.COM INC. (TSX VENTURE:PLX) ("Printlux" or the "Company") is pleased to
provide an update on its change of business transaction.


As previously announced (see the Company's press release dated December 15,
2006), the Company has entered into a letter agreement dated December 15, 2006
to complete a change of business transaction (the "Transaction") pursuant which
the Company will, subject to regulatory and shareholder approval, enter into a
definitive agreement (the "Definitive Agreement") to acquire certain mineral
claims known as the Marble Mountain property located in the Parkin Township in
the Sudbury Mining District within the province of Ontario (the "Property") from
John and Marie Brady of Sudbury, Ontario and with 1311870 Ontario Inc.
(collectively, the "Vendors"). The interest to be acquired pursuant to the
Transaction specifically includes metallic minerals on the Property, but
specifically excludes quarry stone. The Company provided an update on the status
of the proposed Transaction in press releases dated January 16, 2007 and
February 16, 2007, March 20, 2007, April 23, 2007 and June 14, 2007.


As previously announced, the Company called an annual and special meeting (the
"Meeting") of shareholders for January 31, 2007 to seek, among other things,
shareholder approval of the Transaction and related matters. A management
information circular in connection with the meeting was mailed by the Company to
its shareholders of record on December 27, 2006. At the Meeting, the Company's
shareholders approved the proposed Transaction and related matters. For further
information, reference should be made to the management information circular, a
copy of which has been filed by the Company on SEDAR and is available under the
Company's profile at www.sedar.com.


The Company is making application for conditional approval of the Transaction
and related matters with the TSX Venture Exchange. At present, conditional
approval has not yet been obtained.


The completion of the Transaction is subject to the approval of the TSX Venture
Exchange and all other necessary regulatory approvals. The completion of the
Transaction is also subject to additional conditions precedent, including the
completion of the Financing and execution by the Company and the Vendors of the
Definitive Agreement and (if the Company is required to hold another special
meeting of shareholders in connection with the proposed Transaction) approval of
the Company's shareholders. The Company is seeking an exemption from the
requirements to provide a sponsorship report to the Exchange, but there is no
assurance that such exemption will be granted. Until the Exchange approves the
sponsorship exemption, or a sponsor is approved, trading in the shares of the
Company will remain halted.


Completion of the transaction is subject to a number of conditions, including
Exchange acceptance and disinterested Shareholder approval. The transaction
cannot close until the required Shareholder approval is obtained. There can be
no assurance that the transaction will be completed as proposed or at all.


Investors are cautioned that, except as disclosed in the Management Information
Circular to be prepared in accordance with the transaction, any information
released or received with respect to the Change of Business may not be accurate
or complete and should not be relied upon. Trading in the securities of
Printlux.com Inc. should be considered highly speculative.


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