WINNIPEG, MANITOBA--(Marketwired - Sep 1, 2015) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) announces that its proposed property acquisitions from Strike Diamond Corp. and Kalt Industries Ltd. have been terminated.
The proposed acquisitions were originally announced by the Corporation in its news release dated May 12, 2015 and were approved by shareholders at an annual and special meeting held on July 8, 2015. Closing of the transactions was subject to regulatory approval and such approval was not received.
With effect from August 28, 2015, the board of directors has accepted the resignation of Stephen Masson as President and as a director of the Company. John Knowles, a director and former President of the Company has been appointed as acting President and Chief Executive Officer.
The Company is evaluating potential property acquisitions and related funding, which will be announced as and when firm plans are in place.
About Wildcat
Wildcat Exploration Ltd. carries out exploration work on its properties in Ontario, Manitoba and Saskatchewan. In addition, Wildcat is the manager of the Wildcat - Doe Run Canadian Exploration Alliance, which explores for base metal deposits in New Brunswick.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.
Cautionary Note
This news release contains "forward-looking information", within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to Wildcat's exploration program and plans. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wildcat to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Wildcat does not undertake to update any forward- looking information, except in accordance with applicable securities laws.