Li3 Announces Termination of Blue Wolf Mongolia Holdings Corp Merger - MarketWatch: "SANTIAGO, CHILE, Jul 17, 2013 (Marketwired via COMTEX) -- Li3 Energy, Inc., LIEG -38.71% ("Li3", "Li3 Energy" or the "Company"), a US-listed and South America based global exploration company in the lithium and minerals sector, announces that Blue Wolf Mongolia Holdings Corp. has terminated the merger agreement between the two companies. The agreement was terminated due to Blue Wolf's inability to achieve the closing conditions for the transaction.
Luis Saenz, CEO of Li3 Energy, stated: "We are very disappointed that the merger was not successful. Despite this step back, as a result of extremely difficult market conditions in the resource sector, Li3 is currently discussing funding alternatives with our board of directors and bankers and is aggressively seeking additional sources of capital that will allow us to continue with our development program.""
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Luis Saenz, CEO of Li3 Energy, stated: "We are very disappointed that the merger was not successful. Despite this step back, as a result of extremely difficult market conditions in the resource sector, Li3 is currently discussing funding alternatives with our board of directors and bankers and is aggressively seeking additional sources of capital that will allow us to continue with our development program.""
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