| ||Fri Oct 14, 2016|
Knol Resources Corp. Announces Termination of Letter of Intent with Kewa Financial Inc.
| ||NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES|
Vancouver, British Columbia, October 14, 2016 -- Further to its press releases of July 25, 2016 and September 7, 2016, Knol Resources Corp. (NEX: NOL.H) ("Knol" or the "Corporation") wishes to announce that it has received notice of termination of the June 20, 2016 letter of intent (the "Letter of Intent") from KEWA Financial Inc. ("KEWA"), effective October 17, 2016. Accordingly, Knol and KEWA will not be proceeding with the proposed reverse takeover outlined in the Letter of Intent.
Knol also reports that the Special Meeting of Shareholders scheduled for November 14, 2016 will be cancelled. KEWA will also not be proceeding with its previously announced private placement of subscription receipts.
The Corporation will continue to pursue and evaluate other businesses and assets with a view to completing a transaction and will make further announcements with respect to these efforts as soon as practically possible.
Trading of the common shares of the Corporation is expected to resume trading on NEX, subject to regulatory approval, on or about Tuesday, October 18, 2016.
For further information, please contact:
Michael Atkinson, President and Chief Executive Officer of Knol Resources Corp.
Phone: (604) 689-1428
Neither the TSX Venture Exchange nor it 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.
You can view the Next News Releases item: Wed Mar 22, 2017, Knol Resources Corp. Announces Change of Directors and Grant of Options
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