Pinehurst Capital I Announces Proposed Changes in Accordance with New CPC Policy
06 Avril 2021 - 9:19PM
Pinehurst Capital I Inc. (TSXV: PHT.P) (the
"
Corporation"), a capital pool company listed on
the TSX Venture Exchange ("
TSXV"), announces that
pursuant to recent changes by the TSXV to its Capital Pool Company
program and the TSXV's Policy 2.4 – Capital Pool Companies
("
Policy 2.4"), which became effective as at
January 1, 2021 (the "
New CPC Policy"), the
Corporation intends to seek approval to implement certain
amendments to further align with the New CPC Policy.
Pursuant to the New CPC Policy, in order for the
Corporation to align certain of its policies with the New CPC
Policy, it is required to obtain the approval of disinterested
shareholders of the Corporation. At a special meeting of the
shareholders of the Corporation held on February 23, 2021 (the
"Meeting"), the requisite approval of
disinterested shareholders of the Corporation was obtained for the
following matters: (i) to remove the consequences of failing to
complete a "Qualifying Transaction" (as defined in
Policy 2.4) within 24 months of the Corporation's date of listing
on the TSXV; and (ii) to amend the escrow release conditions and
certain other provisions of the Corporation's escrow agreement. All
matters submitted to shareholders of the Corporation for approval
at the Meeting are more particularly described in the Corporation's
management information circular dated January 22, 2021 (the
"Circular"). Please refer to the Circular for
further details with respect to the amendments associated with the
New CPC Policy.
The proposed amendments remain subject to the
final approval of the TSXV.
For further information, please
contact:
David RosenkrantzPinehurst Capital I Inc., CEOe:
drosenkrantz@patica.cap: +1 416-865-0123
The TSXV has neither approved nor disapproved
the contents of this press release. Neither the TSXV nor its
Regulation Services Provider (as that term is defined in the
policies of the TSXV) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary and Forward-Looking Statements
This news release contains certain statements
that may constitute forward-looking statements under applicable
securities laws. Forward-looking statements are not historical
facts but represent management's current expectation of future
events, and can be identified by words such as "believe",
"expects", "will", "intends", "plans", "projects", "anticipates",
"estimates", "continues" and similar expressions. Although
management believes that the expectations represented in such
forward-looking statements are reasonable, there can be no
assurance that they will prove to be correct.
By their nature, forward-looking statements
include assumptions and are subject to inherent risks and
uncertainties that could cause actual future results, conditions,
actions or events to differ materially from those in the
forward-looking statements. The future outcomes that relate to
forward-looking statements may be influenced by many factors,
including but not limited to: SARS CoV-2; reliance on key
personnel; shareholder and regulatory approvals; risks of future
legal proceedings; income tax matters; availability and terms of
financing; distribution of securities; commodities pricing;
currency movements, especially as between the USD and CDN; effect
of market interest rates on price of securities; and, potential
dilution.
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