VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/27/15 -- Kaizen Discovery (TSX VENTURE: KZD) and Tower Resources Ltd. (TSX VENTURE: 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.
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.
Contacts:
Kaizen Discovery Inc.
B. Matthew Hornor
President and CEO
+1-604-669-6446
matthew@kaizendiscovery.com
Kaizen Discovery Inc.
Steve Vanry
Executive Vice President - Corporate Development
+1-604-669-6446
steve@kaizendiscovery.com
www.kaizendiscovery.com
Tower Resources Ltd.
Mark Vanry
President and CEO
+1-604-558-2565
mvanry@towerresources.ca
