February 27, 2015
Kaizen Discovery and Tower Resources
extend period of exclusive negotiations
Kaizen plans to acquire 100% of the outstanding common shares
of Tower Resources in an all-share transaction
VANCOUVER, CANADA - Kaizen Discovery (TSXV: KZD) and Tower Resources Ltd. (TSXV: TWR) announced on February 2, 2015 that they entered into an Exclusivity Agreement as an initial step towards a proposed transaction which would see Kaizen acquire 100% of the outstanding common shares of Tower in an all-share transaction. The parties have agreed to extend the exclusivity period from March 15, 2015 to March 30, 2015 in order for both companies to complete their due diligence.
For more information on the proposed transaction, please refer to Kaizen's February 2, 2015 news release available at
www.kaizendiscovery.com.
About Kaizen Discovery
Kaizen is a Canadian technology-focused, mineral exploration and development company. Kaizen entered into a collaboration agreement with ITOCHU Corporation of Japan in January 2014 and has access to HPX TechCo's proprietary geophysical Typhoon technology under a dedicated services agreement. Kaizen's long-term growth strategy is to work with Japanese entities to identify, explore and develop high-quality mineral projects that have the potential to produce and deliver minerals to Japan's industrial sector.
More information is available at
www.kaizendiscovery.com.
KAIZEN CONTACT INFORMATION
B. Matthew Hornor
President and CEO
+1-604-669-6446
[email protected]
Steve Vanry
Executive Vice President - Corporate Development
+1-604-669-6446
[email protected]
TOWER CONTACT INFORMATION
Mark Vanry
President and CEO
+1-604-558-2565
[email protected]
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 release.
FORWARD-LOOKING STATEMENTS
Certain statements in this news release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. These include, but are not limited to statements regarding the proposed transaction. Assumptions upon which forward looking statements relating to the transaction have been made include, but are not limited to that ongoing due diligence investigations of Kaizen and Tower will not identify any materially adverse facts or circumstances, and that the proposed transaction will be successfully concluded. A number of factors could cause actual results to differ materially, including, but not limited to changes in general business and economic conditions or conditions in the financial markets, and decisions made by our strategic partners. These forward-looking statements are made as of the date of this news release neither Kaizen or Tower assumes any obligation to update or revise the forward-looking statements, except as required under applicable securities laws and neither Kaizen or Tower assumes any liability for disclosure relating to the other company herein.
View News Release in PDF Format:
http://www.kaizendiscovery.com/i/pdf/news/2015-02-27_NR_9FTsNE.pdf