TORONTO, June 23,
2023 /CNW/ - FG ACQUISITION CORP. (TSX:
FGAA.U) (TSX: FGAA.WT.U) (the "Corporation") announced today
that it has extended the June 26,
2023 deadline by which holders of the share purchase
warrants of the Corporation acquired in connection with the
Corporation's initial public offering (the "IPO Warrants")
who wish to have their IPO Warrants purchased in connection with
the Corporation's proposed business combination transaction with
Think Financial Group Holdings Limited (the "Qualifying
Acquisition") must deposit their IPO Warrants for purchase by
the sponsors of the Corporation, FGAC Investors LLC and CG
Investments VII Inc. The Corporation will announce the new deadline
by way of news release once determined.
About FG Acquisition
Corp.
FG Acquisition Corp. is a special purpose acquisition company
incorporated under the laws of British
Columbia for the purpose of effecting, directly or
indirectly, an acquisition of one or more businesses or assets, by
way of a merger, amalgamation, arrangement, share exchange, asset
acquisition, share purchase, reorganization, or any other similar
business combination involving the Corporation. Kyle Cerminara serves as Chairman, Larry Swets, Jr. serves as Director and Chief
Executive Officer, and Hassan R.
Baqar serves as Director and Chief Financial Officer of the
Corporation. In addition, Robert I.
Kauffman, a former co-founder and Principal of Fortress
Investment Group, serves as a Senior Advisor to the Corporation.
The Corporation received US$115
million of proceeds from its initial public offering which
was completed on April 5, 2022 and
the closing of the overallotment option granted in connection with
such initial public offering which was completed on April 20, 2022. The gross proceeds of the
offering were placed in an escrow account with TSX Trust Company
immediately thereafter and will be released upon consummation of
the Qualifying Acquisition in accordance with the terms and
conditions of the escrow agreement.
Forward–Looking
Statements
This press release may contain forward–looking information
within the meaning of applicable securities legislation, which
reflects the Corporation's current expectations regarding future
events, including the closing of the Qualifying Acquisition, the
deadline for deposit of the IPO Warrants and the purchase thereof
by the Sponsors. Forward–looking information is based on a number
of assumptions and is subject to a number of risks and
uncertainties, many of which are beyond the Corporation's control,
that could cause actual results and events to differ materially
from those that are disclosed in or implied by such forward–looking
information. The Corporation does not undertake any obligation to
update such forward–looking information, whether as a result of new
information, future events or otherwise, except as expressly
required by applicable law.
SOURCE FG Acquisition Corp.