Toronto, Ontario--(Newsfile Corp. - January 20, 2020) - AIM3 Ventures Inc. (TSXV: AIMC.P) ("AIM3" or the "Company") announces that the Company and Southern Sun Pharma Inc. ("SSP") have agreed to terminate the letter of intent dated January 21, 2019, as supplemented May 15, 2019 and October 29, 2019 (collectively, the "Letter of Intent") in respect of a proposed transaction between the Company and SSP (the "Proposed QT"). No deposit, loan or cash advance was made by the Company to SSP in connection with the Letter of Intent.
AIM3 will continue to pursue and evaluate other businesses and assets with a view to completing its qualifying transaction and will make further announcements with respect to these efforts as soon as practically possible.
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AIM3 Ventures Inc.
Chief Executive Officer
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About AIM3 Ventures
AIM3 was incorporated under the Business Corporations Act (Ontario) and is a Capital Pool Company (as defined in the policies of the TSX Ventures Exchange (the "Exchange")) listed on the Exchange. AIM3 has no commercial operations and no assets other than cash.
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the management of the Company with respect to future business activities. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions.
Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking information. These factors should be considered carefully and readers should not place undue reliance on forward-looking information.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect the management of the Company's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
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