Oz Brewing (ASX:OZB) has decided not to proceed with the proposed acquisition of Monomotapa Gold and its 82% interest in Engrais Gabon, holder of the Gabon Potash Assets.
The Heads of Agreement has been terminated accordingly with no outstanding liability or obligation on either party.
This is subsequent to OZB's recent decision to enter the technology sector with last month's agreement to acquire 3D Group.
3D Group is an emerging 3D technology company focused on upstream and downstream opportunities associated with additive manufacturing, also referred to as 3D printing.
Having designing and manufactured the largest fused filament fabrication printer on the market in Melbourne, 3D is now developing a number of ancillary and complementary lines of business and services.
These will include further development of industrial grade multi application printers, a print bureau service, an online 3D print file market place, a school education initiative and a retail kiosk concept.
In addition, 3D has entered a binding agreement with Kibaran Resources (ASX:KNL) to establish a joint venture company, 3D Graphtech Industries, to explore and develop the application of graphite and graphene in 3D printing.
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