Kenadyr was unable to raise sufficient capital to meet the closing conditions and complete the transaction. As a result, Kenadyr and Karus have agreed to mutually terminate the Arrangement Agreement.
About Karus
Karus is the 100% owner of the 1,000 km2
Contact:
Tel: (888) 455-7620
Email: info@karusgold.com
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as 'will', 'may', 'should', 'anticipate', 'expects', 'suggests' and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the ability to close the Proposed Transaction and the pursuit of alternative options for advancing the Company. Such forward-looking statements, and any assumptions upon which they are based, are made in good faith, and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information.
Such factors include, among others: the state of equity capital markets, the ability to raise funds, the gold price, the ability to obtain, in a timely manner, all necessary, corporate, regulatory, stock exchange, shareholder and other third-party approvals to consummate any alternate options and the ability source any alternate options for the Company, and the ability to advance the
Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events, or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
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