VANCOUVER, CANADA -- Kaizen Discovery (TSXV: KZD) and Tower Resources Ltd. (TSXV: TWR) announced today that they have elected not to proceed with the proposed transaction, previously announced on February 2, 2015, that would have seen Kaizen acquire 100% of the outstanding common shares of Tower.
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 on Kaizen is available at www.kaizendiscovery.com.
About Tower Resources
Tower Resources is a Vancouver-based mineral exploration company focused on the discovery and advancement of economic mineral projects in the province of British Columbia (BC), Canada. The current focus of the company is advancing the JD, Rabbit North and Baez projects in central and northern BC. More information on Tower Resources is available at www.towerresourcesltd.com.
KAIZEN CONTACT INFORMATION
B. Matthew Hornor, President and CEO
+1-604-669-6446
Steve Vanry, Executive Vice President -- Corporate Development
+1-604-669-6446
TOWER CONTACT INFORMATION
Mark Vanry, President and CEO
+1-604-558-2565
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.
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