Vancouver-Crescent Resources Corp. said Sept. 19 that it has elected to not proceed with a letter agreement with Australian Potash Co. Pty Ltd. and its shareholders announced on July 30, 2008. Current market conditions have contributed to the decision, and Crescent would have been unable to raise sufficient funds to meet its financial commitments to APC should it have entered into a definitive agreement to pursue this opportunity. Crescent, a mineral exploration and development company with a defined growth strategy of adding value through discovery and rapid project advancement through exploration, has 30.7 million common shares outstanding.
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