BRIEF-Universal Ventures terminates acquisition agreement with Promitheas

Fri Sep 30, 2016 8:11pm EDT
 
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Sept 30 (Reuters) - Universal Ventures Inc

* Termination of acquisition agreement to acquire Promitheas Interest'l Ltd.

* Will not be proceeding with private placement financing it was to undertake in connection with proposed transaction

* "Universal will seek out and evaluate new opportunities"

* Agreement with Promitheas terminated in accordance with its terms as proposed transaction did not complete by September 30, 2016

* "Universal will request that its common shares be reinstated for trading as soon as possible"

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