Alta Vista announces the termination of the Letter of Intent to purchase RedeCan Pharm
07.03.2016 | FSCwire
Vancouver - Alta Vista Ventures Ltd. (‘Alta Vista’ or the ‘Company’) (AVV-CSE, YRLLF-OTC) reports that the Letter of Intent with Redecan Pharm (see news release dated November 27, 2015 and January 29, 2016) has been terminated due to the Company failing to provide sufficient funding to RedeCan in the agreed upon timeframe.The new management of Alta Vista Ventures is currently in discussions with RedeCan in regards to the possibility of moving forward with a new letter of intent.
Alta Vista has the right to purchase Thor Pharma, an early stage MMPR applicant that considers 75,000 square feet of growing space. Alta Vista cannot guarantee nor estimate the timing for the issuance of an MMPR license to Thor Pharma.
As part of its ongoing efforts to expand in the sector Alta Vista continues to evaluate additional opportunities.
On behalf of the Board,
“Don Shaxon”
Don Shaxon, President
For information on Alta Vista Ventures, contact Don Shaxon at 289-697-8625 or Jason Springett at 519-617-9285.
Neither Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in such statements. As a result, actual results may vary materially from those described in the forward-looking statements.