THK has given Mountains West another extenstion (to March 30, 2007) to close on the acquisition of THK's dating business. To the best of my knowledge, Mountains West has not yet raised one dime to finance the acquisition. The original letter of intent was signed March 22, 2006.
sec.gov
Think Partnership Extends Letter Of Intent to Sell Dating Business
Friday February 9, 4:51 pm ET
CLEARWATER, Fla.--(BUSINESS WIRE)--Think Partnership Inc. (AMEX: THK - News), an international leader in interactive performance-based marketing and related Internet technologies, has extended the previously announced letter of intent to sell its dating businesses to Mountains West Exploration Inc. (OTCBB: MWXI - News) until March 30, 2007. The 90 day period contemplated in the letter of intent was scheduled to expire today.
As previously reported, the sale includes Think's wholly-owned online dating subsidiary, Cherish, Inc of Clearwater, Fla., and Cherish's direct and indirect subsidiaries, Personals Plus, Inc. of Apollo Beach, Fla., and Vintacom Media Group, Inc. of Edmonton, Alberta, Canada. (collectively, "Cherish").
Think Partnership cannot provide any assurance whatsoever that this proposed transaction will be completed. Closing of the transaction is subject to a number of conditions including, among other things, MWXI's ability to finance the cash portion of the purchase price. The transaction is also subject to Think's satisfactory due diligence of MWXI and MWXI's satisfactory due diligence of Cherish, the negotiation and execution of definitive agreements, the receipt of all required consents, and Board of Director approvals of MWXI and Think. Before closing, Think will require an appropriate legal opinion from its counsel and an opinion from a qualified independent investment bank regarding the fairness of the terms and conditions of the transaction to Think's shareholders, in light of the fact that MWXI currently is controlled by individuals who are shareholders of Think and who are actively involved in certain other business transactions and companies with members of Think's management and Board of Directors.
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