CALGARY, AB, June 1, 2021 /CNW/ - Hoist Capital
Corp. (TSXV: HTE.P) (the "Corporation") announces that
it will be holding a special meeting (the "Meeting") of
shareholders on June 24, 2021 to
obtain the benefits under TSX Venture Exchange (the "Exchange")
Policy 2.4 Capital Pool Companies, (the "New CPC Policy")
implemented on January 1, 2021.
The Corporation will be tabling the following matters at the
Meeting for approval by disinterested shareholders in order to
obtain the benefits under the New CPC Policy: (i) removing the
consequences of the Corporation failing to have completed a
Qualifying Transaction within 24 months of listing on the Exchange.
These consequences include the delisting or suspension of the
Corporation's common shares on the Exchange, or subject to the
approval of the majority of the Corporation's shareholders,
transferring the listing the NEX board of the Exchange and the
cancellation of certain seed shares held by non-arm's length
parties to the Corporation; (ii) amending the Exchange Form 2C
Escrow Agreement entered into by certain holders of seed shares of
the Corporation to replace the current 36 month escrow release term
to an accelerated 18 month release term; and (iii) permitting the
payment of finder's fees to related parties of the Corporation in
conjunction with a Qualifying Transaction in accordance with the
policies of the Exchange.
About the Corporation
The Corporation is a CPC within the meaning of the New CPC
Policy that has not commenced commercial operations and has no
assets other than cash. Except as specifically contemplated in the
New CPC Policy, until the completion of a Qualifying Transaction
the Corporation will not carry on business, other than the
identification and evaluation of companies, business or assets with
a view to completing a Qualifying Transaction. Investors are
cautioned that trading in the securities of a CPC is considered
highly speculative.
NEITHER 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 PRESS RELEASE.
Forward-Looking Information
This news release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to, the
approval of disinterested shareholders of matters under the New CPC
Policy at the general and special shareholder meeting and the
future business of the Corporation. Generally, forward-looking
information can be identified by the use of forward-looking
terminology such as "plans", "is expected", "expects" or "does not
expect", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", "believes", or
variations of such words and phrases; or terms that state that
certain actions, events, or results "may", "could", "would",
"might", or "will be taken", "could occur", or "be achieved".
Forward-looking information is based on the opinions and estimates
of management at the date the information is made, and is based on,
a number of assumptions and is subject to known and unknown risks,
uncertainties and other factors, including but not limited to the
timing of obtaining the necessary approvals of the shareholders and
the TSXV. Although the Corporation has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated, or intended. There can be no assurance that
such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such information. Accordingly, readers should not place undue
reliance on forward-looking information. The Corporation does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS
IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES, AND DOES NOT
CONSTITUTE AN OFFER TO SELL OR SOLICITATION OF AN OFFER TO SELL ANY
OF THE SECURITIES DESCRIBED HEREIN IN THE
UNITED STATES, THESE SECURITIES HAVE NOT BEEN, AND WILL NOT
BE, REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1993, AS AMENDED, OR ANY SECURITIES
LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR U.S. PERSONS UNLESS
REGISTERED OR EXEMPT THEREFROM.
SOURCE Hoist Capital Corp.