Dia Bras Exploration Decides Against Acquiring Plexmar Resources; Shares Flat

By MT Newswires,  June 15, 2012, 03:11:18 PM EDT

Dia Bras Exploration Inc. (DIB.V) said it has terminated its letter of intent to acquire Plexmar Resources Inc. (PLE.V)

Daniel Tellechea, president and CEO of Dia Bras, commented: "After a thorough due diligence process on Plexmar Resources, we believe that this acquisition does not meet our investment criteria and development strategy under the terms of the Letter of Intent."

Dia Bras shares are holding steady so far on the news, at $2.68. Some 12,000 shares shares have traded so far today. Plexmar shares are also unchanged so far at 4 cents.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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