Peak Resources Limited : Ngualla Funding Update
July 18, 2013 (Source: Peak Resources Limited) — Peak Resources Limited (Peak; ASX:PEK; OTCQX: PKRLY) wishes to advise the market that it has terminated negotiations with the potential cornerstone investor as per the company’s announcement on 23rd April 2013.
This announcement outlined the Company’s entry into a non-binding Memorandum of Understanding (MoU) with a prospective funding partner. Negotiations to complete a binding formal agreement over the past month have from Peaks perspective shown in sufficient progress. The prospective partner has failed to meet previously agreed deadlines and as a consequence the Company has elected to terminate discussions as of today, 18th July 2013.
The Company continues to hold discussions with other potential cornerstone investors and further details will be released as they become available.
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Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>