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| | February 04, 2008
Dundarave Resources Inc. Shareholders Approve Extrel Technology Licence Agreement With Enpar Technologies
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| | Vancouver, British Columbia, Dundarave Resources Inc. (TSX-V: DDX) ("Dundarave") is pleased to announce that the shareholders of Dundarave have approved the ExtrEL Technology License agreement between Dundarave and ENPAR Technologies at the Extraordinary General Shareholders Meeting of Dundarave Resources held on February 1, 2008.
Dundarave had previously obtained conditional approval from the TSX Venture Exchange for the ENPAR Technologies' ExtrEL nickel recovery technology licensing agreement. The TSX Venture Exchange had determined that the transaction is a Fundamental Acquisition (as defined in TSX Venture Exchange Policy 5.3) and required that Dundarave obtain shareholder approval (at least 50% of the shareholders). After the vote Dundarave applied for a final approval from TSX Venture.
Paul Matysek, President and CEO of Dundarave, stated : "We are very pleased with the outcome of today's vote as it allows us to obtain the final approval of the transaction from TSX Venture and embark on the next phase of the technology development. We now look forward to initiating the Optimization and Design program for the ExtrEL technology that will focus on reactor design and the nickel separation process."
In response to the news, Dr. Gene Shelp, President and CEO of ENPAR stated: "ENPAR is very excited with the opportunity to work closely with Mr. Paul Matysek and his team to exploit the potential of ENPAR's ExtrEL technology. ENPAR is committed to an expedient and successful Optimization and Design Program."
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statement
This press release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forwardlooking information includes, among other things, statements with respect to the Company's plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to the success of the ExtrEL leaching system technology; changes in economic conditions or financial markets; changes in prices for the optimization and design program or the test pilot plant; patent and other forms of litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain suitable tailings or permits required in connection with extraction and related activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
ON BEHALF OF THE BOARD
Paul Matysek, M.Sc., P. Geo.
President & CEO
Phone: (604) 999-9939
Fax: (604) 408-4799 |
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| | You can view the Next News Releases item: Wed Feb 6, 2008, TSX Venture Exchange Issues Final Approval of Extrel Technology Licence Agreement
You can view the Previous News Releases item: Thu Oct 4, 2007, Dundarave Acquires Right to Earn an Exclusive Worldwide License to Enpar Technologies' ExtrEL Leaching System for Nickel Sulphide Mine Tailings
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