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CALGARY, Oct. 7, 2019 /CNW/ - Colson Capital Corp.
("Colson" or the "Corporation") (TSXV: COLS.P)
announces that the previously announced amended and restated
arrangement agreement between the Corporation and Honest Inc.
dba Province Brands (the "Arrangement Agreement") in
respect of their proposed business combination transaction (the
"Proposed Transaction") has terminated in accordance with
its terms. The Proposed Transaction was expected to constitute
Colson's Qualifying Transaction under Policy 2.4 – Capital Pool
Companies ("Policy 2.4") of the TSX Venture Exchange
(the "TSXV").
Colson has re-engaged in the process of identifying and
evaluating assets or businesses with a view to completing a
Qualifying Transaction. The common shares of Colson, which were
previously halted from trading pending completion of the Proposed
Transaction, will remain halted, as Colson's common shares have
been suspended from trading for its failure to complete a
Qualifying Transaction within 24 months. Trading in the common
shares is expected to resume upon completion of a Qualifying
Transaction by Colson.
General Information on Colson
Colson is incorporated under the laws of the Province of
Alberta and has a head office in
Calgary, Alberta. Colson is a
"capital pool company" under the policies of the TSXV. The
Corporation is a reporting issuer in the provinces of British Columbia, Alberta, Saskatchewan and Ontario.
Investors are cautioned that trading in the securities of a
capital pool company should be considered highly speculative.
Cautionary Statements
This news release contains "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
statements") within the meaning of the applicable Canadian
securities legislation. All statements, other than statements of
historical fact, are forward-looking statements and are based on
expectations, estimates and projections as at the date of this news
release. Any statement that involves discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always
using phrases such as "expects", or "does not expect", "is
expected", "anticipates" or "does not anticipate", "plans",
"budget", "scheduled", "forecasts", "estimates", "believes" or
"intends" or variations of such words and phrases or stating that
certain actions, events or results "may" or "could", "would" ,
"might " or "will" be taken to occur or be achieved) are not
statements of historical fact and may be forward-looking
statements. In this news release, forward-looking statements
relate, among other things, to: the resumption of trading of the
Corporation's common shares. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable, are subject to known and unknown
risks, uncertainties, and other factors which may cause the actual
results and future events to differ materially from those expressed
or implied by such forward-looking statements. Such factors
include, but are not limited to: general business, economic,
competitive, political and social uncertainties; and the delay or
failure to receive board, shareholder, court or regulatory
approvals. There can be no assurance that such statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on the
forward-looking statements and information contained in this news
release. Except as required by law, the Corporation assumes no
obligation to update the forward-looking statements of beliefs,
opinions, projections, or other factors, should they change, except
as required by law.
Neither the TSX Venture Exchange, Inc. nor its Regulation
Services Provider (as that term is defined in the polices of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Colson Capital Corp.