Silvore Fox Minerals Corp. (SFX.V) and its Chilean subsidiary have determined that it is no longer in the best interests of their shareholders to close the acquisition of the 2 Chile properties known as Totoral and Harvest that were originally announced January 9, 2012.
As a result, the company and Sinotech Minerals Exploration Chile Limitada have agreed to terminate the acquisition agreement and Sinotech Chile would return the purchase deposit of approximately $1 million to the company.
SFX is unchanged at $0.035, slightly above year low 2 cents.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
