VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 02/23/12 — CCT Capital Ltd. (the „Company“) (TSX VENTURE: CCW) announces that, further to its news release of September 1, 2010, it has terminated a non-binding letter of intent dated August 10, 2010 (the „LOI“) with an Amex listed mineral exploration company (the „Vendor“) to acquire 100% of the Vendor-s leasehold interest (the „Interests“) in a number of gold/silver contiguous unpatented lode mining claims and four patented mining claims in the State of California (the „Project“).
Under the terms of the LOI, the Company contemplated purchasing all of the Interests for consideration of a cash payment of US$4,000,000 and issuance of common shares in its capital stock in such number as is equivalent to US$8,000,000, calculated using the issue price of a private placement financing to be completed on or before the time of closing of the acquisition (the „Payment Shares“). The transaction would have constituted a reverse take-over under the policies of the TSX Venture Exchange (the „Exchange“).
The Company is currently reviewing other opportunities.
About CCT Capital Ltd.
CCT Capital Ltd. is a Canadian based exploration stage company. The principal business of the Company is the acquisition and exploration of mineral properties.
ON BEHALF OF THE BOARD
Laurie Sadler, President & CEO
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
Contacts: CCT Capital Ltd. Laurie Sadler President & CEO 604-685-4655 604-685-4675 (FAX)
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