Niketo, has not proceeded with its proposed offer NWT Uranium Corp. Provides Corporate Update
NWT Uranium Corp. NWT
1/30/2013 4:31:39 PM
NWT Uranium Corp. Provides Corporate Update
TORONTO, ONTARIO--(Marketwire - Jan. 30, 2013) - NWT Uranium Corp. (the "Corporation") (TSX VENTURE:NWT)(OTCBB:NWURF)(FRANKFURT:NMV) would like to provide, further to its press release of January 24, 2013, an update with respect to its discussions with the TSX Venture Exchange and the proposed bid for Look Communications Inc. ("Look") by the Corporation's subsidiary, Niketo Co. Ltd. ("Niketo").
TSX Venture Exchange
The Corporation has been advised by the TSX Venture Exchange (the "Exchange") that the Corporation has been deemed to have undertaken a change of business from a mining issuer to an investment issuer. As a result of the deemed change of business, the Corporation will be making the appropriate filings with the Exchange in order to obtain Exchange approval for the change of business.
The Corporation's common shares will remain halted until such time that the Exchange has approved the change of business.
Look Communications Inc.
Further to its press release of January 8, 2013, the Corporation advises that its subsidiary, Niketo, has not proceeded with its proposed offer to acquire a 49.9% voting interest of Look. The Corporation is currently evaluating its various options, but here can be no assurance Niketo's offer will be successful or will be completed as proposed or at all. Any acquisition of the Look shares would be subject to various conditions, including Exchange approval.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
NWT Uranium Corp.
David Subotic
CEO
(416) 504-3978
www.nwturanium.com
TUNED PR
Gavin Davidson
(416) 999-7138
Marketwire Canada
January 30, 2013 - 4:31 PM EST