Post by
pitbul13 on Apr 16, 2012 7:05pm
Termination of Letter of Intent With Lion Petroleu
Termination of Letter of Intent With Lion Petroleum --->@NEWS RELEASE RARE EARTH INDUSTRIES LTD. ("RND-V") - Termination of Letter of Intent With Lion Petroleum Rare Earth Industries Ltd. announces that, further to its announcement on December 6, 2011, the deadline for entering into the definitive agreement with Lion Petroleum Corp. has expired and the parties have elected not to proceed with the transaction contemplated in the letter of intent signed on December 5, 2011. The Company has a strong balance sheet and will continue to investigate market opportunities that will allow it to further enhance shareholder value in the near term. Trading on the TSX Venture Exchange will resume at the open of the market on Tuesday, April 17, 2012.