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HANGZOU, CHINA and PITTSBURGH, PA --(Marketwired - February 16, 2016) - Cardinal Resources Inc. (OTC PINK: CDNL), a global producer of patented, solar powered, community-scale drinking water systems, and China-based Hangzhou Sky Valley Water Technology Co., Ltd. ("HSVW") announced that due to the Holidays in China and US the deadline for closing the definitive Stock Purchase Agreement will be extended. Meetings and conference calls between Cardinal Resources and HSVW are being held to determine a date for the transfer of the first tranche. On December 16, 2015, Cardinal Resources announced it had signed a definitive Stock Purchase Agreement with HSVW and an extension to the closing until February 15, 2016 was announced on February 4, 2016. A further update will be issued on or before February 18, 2016. Based on the on-going discussions, all parties are still moving forward and a closing is still anticipated. |
