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| Home : Crown Point Deems Dissident's Last-Minute Proposal Not a Bona Fide Offer and Confirms Support for Second Tranche Financing With Strategic Investors |
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Jan 31
2015 |
Crown Point Deems Dissident's Last-Minute Proposal Not a Bona Fide Offer and Confirms Support for Second Tranche Financing With Strategic Investors |
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CALGARY, ALBERTA--(Marketwired - Jan. 30, 2015) - Crown Point Energy Inc. ("Crown Point" or the "Company") (TSX VENTURE:CWV) today advised shareholders that a Special Committee of the Board has reviewed the purported "binding proposal" for financing (the "Last-Minute Proposal") received from dissident shareholder LAIG Oil Investments ("LAIG") and after careful consideration has determined that it is not a bona fide offer of financing. Furthermore, Crown Point advises shareholders that based on the advice of counsel, the Last-Minute Proposal is not "binding" at all, notwithstanding LAIG's claim that it is. |
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| Source:http://www.marketwired.com/mw/release.do?id=1987650&sourceType=3 |
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