Universal Ventures terminates acquisition agreement with Promitheas

Industry:    2016-10-03

Universal Ventures Inc

* Termination of acquisition agreement to acquire Promitheas Interest’l Ltd.

* Will not be proceeding with private placement financing it was to undertake in connection with proposed transaction

* “Universal will seek out and evaluate new opportunities”

* Agreement with Prometheus terminated in accordance with its terms as proposed transaction did not complete by September 30, 2016

* “Universal will request that its common shares be reinstated for trading as soon as possible”

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