TAKARA RESOURCES ANNOUNCES WITHDRAW OF PROPOSED ACQUISITION OF KUTU GOLD INC.
TORONTO, ONTARIO? October 18, 2012 ? Takara Resources Inc. ("Takara" or the ?Company?) (TSXV:TKK) announces that the Company?s application to the TSX Venture Exchange to acquire Kutu Gold Inc., as announced on June 1, 2012, has been withdrawn.
The Company will continue to prioritize its projects and updates will be provided when available.
Given the termination of the proposed transaction with Kutu Gold Inc., Messrs. Suresh Narine, Steve McIntyre, and Chris Irwin have tendered their resignations as directors of the Company.
About Takara
Takara Resources Inc. is a Canadian based gold company focused on exploring and developing its Guyana gold assets in the Guiana Shield that are held within a wholly-owned subsidiary, StrataGold Guyana Inc.
FOR FURTHER INFORMATION PLEASE CONTACT:
Jennifer Boyle
President & Chief Executive Officer
(416) 904 2714 (cell)
Statement Regarding Forward Looking Information
This news release of Takara contains statements that constitute ?forward-looking statements.? Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Takara?s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words ?expects,? ?plans,? ?anticipates,? ?believes,? ?intends,? ?estimates,? ?projects,? ?potential? and similar expressions, or that events or conditions ?will,? ?would,? ?may,? ?could? or ?should? occur. Forward-looking statements in this document include statements regarding Takara?s expectations regarding ownership, entitlements, drilling and exploration activities on properties in which Takara has, or believes it has an interest. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Takara?s expectations. Takara undertakes no obligation to update these forward-looking statements in the event that management?s beliefs, estimates or opinions, or other factors, should change.
Neither the TSX Venture Exchange nor its 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 news release.