Nebu can­cels Linceo re­verse takeover

Stockwatch Daily - - MINES & METALS - Mr. Paul Crath re­ports

NEBU RE­SOURCES Inc. has can­celled its pre­vi­ously an­nounced pro­posed re­verse take-over trans­ac­tion with Linceo Me­dia Group Inc. In con­sid­er­a­tion for the ex­penses in­curred by Nebu and the as­sis­tance pro­vided by Nebu to Linceo in con­nec­tion with the pro­posed trans­ac­tion and re­lated fi­nanc­ings, Linceo agrees to is­sue to Nebu 6,667 com­mon shares of Linceo, which are ex­pected to have a value of ap­prox­i­mately $240,000. Such value was de­ter­mined as rea­son­able through arms-length ne­go­ti­a­tion be­tween the par­ties. Linceo has in­formed Nebu that it is in dis­cus­sions with var­i­ous par­ties re­gard­ing an al­ter­na­tive trans­ac­tion or joint ven­ture with re­spect to its prop­er­ties.

The com­pany is pleased to an­nounce that it is fi­nal­iz­ing de­tails of a con­di­tional let­ter of in­tent with Far­ris Hold­ings Group Inc., a Delaware cor­po­ra­tion, pur­suant to which Nebu will change its busi­ness to an in­vest­ment com­pany.

De­tails of the pro­posed trans­ac­tion re­main sub­ject to ne­go­ti­a­tion and will be pro­vided in a sep­a­rate press re­lease when fi­nal­ized by the par­ties’ re­spec­tive ad­vis­ers.

The com­mon shares of Nebu will re­main halted from trad­ing, pend­ing the re­view of the pro­posed trans­ac­tion and change of busi­ness by the TSX Ven­ture Ex­change.

We seek Safe Har­bor.

Rudy Bianchi, Paul Ja­son Crath, Rocco An­to­nio Lis­cio, Mark Mungo

(NBU) Shares: 13,237,390

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