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LAW./
CALGARY, May 29, 2019 /CNW/ - Cassowary Capital
Corporation Limited ("Cassowary" or the
"Corporation") (TSX VENTURE: BIRD.P) announces that, further
to the Corporation's news release dated November 22, 2018, it has terminated the
non-binding letter of intent with Lobo Genetics Inc.
("Lobo") and will no longer be proceeding with the proposed
reverse takeover of Cassowary by Lobo. The transaction was intended
to constitute Cassowary's Qualifying Transaction (as such term is
defined by the TSX Venture Exchange (the "TSXV")). No
deposit or cash advance was made by Cassowary to Lobo in connection
with the proposed Qualifying Transaction.
The Corporation is now evaluating other acquisition
opportunities with a view to completing a Qualifying
Transaction.
About the Corporation
Cassowary is a capital pool company within the meaning of the
policies of the TSXV that has not commenced commercial operations
and has no assets other than cash. Cassowary's business is to
identify and evaluate businesses and assets with a view to
completing a Qualifying Transaction under the policies of the
TSXV.
Forward Looking Information
This news release contains "forward‐looking information" and
"forward‐looking statements" (collectively, "forward‐looking
statements") within the meaning of the applicable Canadian
securities legislation. All statements, other than statements of
historical fact, are forward‐looking statements and are based on
expectations, estimates and projections as at the date of this news
release. Any statement that involves discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always
using phrases such as "expects", or "does not expect", "is
expected", "anticipates" or "does not anticipate", "plans",
"budget", "scheduled", "forecasts", "estimates", "believes" or
"intends" or variations of such words and phrases or stating that
certain actions, events or results "may" or "could", "would",
"might" or "will" be taken to occur or be achieved) are not
statements of historical fact and may be forward‐looking
statements. In this news release, forward‐looking statements
relate, among other things, to any proposed future Qualifying
Transaction of Cassowary. Forward‐looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable, are subject to known and unknown
risks, uncertainties, and other factors which may cause the actual
results and future events to differ materially from those expressed
or implied by such forward‐looking statements. Such factors
include, but are not limited to: general business, economic,
competitive, political and social uncertainties; and the delay or
failure to receive board, shareholder or regulatory approvals.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on the forward‐looking
statements and information contained in this news release. Except
as required by law, Cassowary assumes no obligation to update the
forward‐looking statements of beliefs, opinions, projections, or
other factors, should they change, except as required by law.
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 news release.
SOURCE Cassowary Capital Corporation Limited