TORONTO, ONTARIO--(Marketwired - Nov 13, 2015) - Icon Exploration Inc. (TSX VENTURE:IEX) ("Icon") announces that the definitive agreement to acquire Incryptex Ltd ("Incryptex") which was signed on August 31, 2015 has been terminated (see Icon's August 31, 2015 news release).
Over the last few months Icon has conducted due diligence on Incryptex. After Icon completed its due diligence on the Company, it was determined that changes would have to be made in management and to the structure of the deal with Incryptex in order to develop a successful plan to attract the financing required.
The definitive agreement has been terminated with no further obligation on either party. No funds were advanced by Icon to Incryptex.
Icon is pursuing an acquisition involved in blockchain technologies and remains open to negotiate with new management and any newly structured company or other companies in the future.
ICON EXPLORATION INC
Rob Fia, President & CEO
FORWARD LOOKING INFORMATION
The forward-looking statements and information contained in this press release are made as of the date of this press release, and Icon does not undertake any obligation to update publicly or to revise any of the included forward-looking statements or information, whether as a result of new information, future events or otherwise, except as expressly required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in polices of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Icon Exploration Inc. Rob Fia President & CEO 416 867-2353 rfia@kingsdalecapital.com
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