TORONTO, Dec. 17 /PRNewswire-FirstCall/ -- NWT Uranium Corp. (TSX-V: NWT; OTCBB: NWURF) today announced that it has received an unsolicited proposal from a third party to enter into a transaction pursuant to which that third party would acquire all of NWT's outstanding shares for consideration consisting of securities of that third party.
The Board of Directors of NWT have determined, after review, that the acquisition proposal is unlikely to result in a transaction that is more favorable to NWT's share holders, from a financial point of view, than the previously announced transaction with Nu-Mex Uranium Corp. The board has advised the third party that it does not intend to enter into negotiations concerning the acquisition proposal.
ABOUT NWT URANIUM:
NWT Uranium Corp. (http://www.nwturanium.com/) is an international resource exploration company with an experienced, highly technical management team. Since its inception, NWT has concentrated on the acquisition of properties with potential uranium targets. NWT Uranium is listed on the NASD Bulletin Board under the symbol "NWURF" and the TSX Venture Exchange under the symbol "NWT."
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the worldwide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
