Liberty Resources terminates business combination with Markmore Energy due to global economic conditions

Liberty Resources Acquisition Corp.

Mutual Termination Agreement signed May 14, 2024, terminating the Business Combination Agreement dated Dec 15, 2022.
Termination due to challenging global economic conditions; each party releases the other from all obligations.
No further force or effect of the Business Combination Agreement; SPAC now without a merger target.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Liberty Resources Acquisition Corp. terminated Mutual Termination Agreement with Markmore Energy (Labuan) Limited valued at Mutual Termination Agreement terminated the Business Combination Agreement (effective 2024-05-14).

Action: termination
Agreement: asset purchase
Counterparty: Markmore Energy (Labuan) Limited
Value: Mutual Termination Agreement terminated the Business Combination Agreement
Effective: 2024-05-14

Exact text from the filing

On May 14, 2024, Liberty and Markmore entered into a Mutual Termination Agreement (the “ Mutual Termination Agreement ”) pursuant to which they terminated the Business Combination Agreement by mutual agreement in accordance with Section 12.01(a) thereof, and each party, on behalf of itself and its agents, released, waived and forever discharged the other parties and their agents of and from any and all obligation or liability arising under the Business Combination Agreement.

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Source: SEC EDGAR

accession 0001104659-24-061187

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