VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 1, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Vida Ventures Ltd. (TSX VENTURE:VDA.P) (the "Company") announces that, further to the Company's news release dated January 18, 2012, the letter of intent (the "Letter of Intent", as amended) entered into with Jinan Tonec Energy-Saving Co., Ltd. ("Tonec"), and its controlling owner with respect to a proposed qualifying transaction for the Company has been terminated as the parties have agreed not to extend the term of the Letter of Intent.
The Company will seek other opportunities in respect of a potential qualifying transaction and request the TSX Venture Exchange to reinstate the Company's shares for trading on August 2, 2012.
On behalf of the board of directors of VIDA VENTURES LTD.
Herrick Lau, Chief Financial Officer
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.