Business News • MarketWire • Focused Capital II Corp. Announces Proposed Qualifying Transaction With United Hydrocarbon International Corp. |
Focused Capital II Corp. Announces Proposed Qualifying Transaction With United Hydrocarbon International Corp. |
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Focused Capital II Corp. Announces Proposed Qualifying Transaction With United Hydrocarbon International Corp.
TORONTO, ONTARIO--(Marketwire - July 8, 2012) - Focused Capital II Corp. ("Focused Capital II") (TSX VENTURE:FAV.P), a capital pool company as defined under Policy 2.4 of the TSX Venture Exchange (the "Exchange"), is pleased to announce that it has entered into a non-binding letter of intent (the "LOI") for the arm's length acquisition of 100% of the common shares of United Hydrocarbon International Corp. ("UHI"), a company incorporated under the laws of Canada. Pursuant to the terms of the LOI and subject to completion of certain conditions precedent, including, completion by UHI of a private placement for approximately $100 million, satisfactory due diligence, execution of a definitive agreement and receipt of all necessary regulatory and Exchange approvals, the proposed acquisition of UHI will qualify as Focused Capital II's "Qualifying Transaction" as defined by Exchange Policy 2.4.
View More : http://www.marketwire.com/mw/release.do?id=1677437&sourceType=3
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