CALGARY, ALBERTA–(Marketwired – June 19, 2017) –
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
Vier Capital Corp. (“Vier” or the “Corporation“) (TSX VENTURE:VIE.P), a capital pool company, announces that the Corporation has applied for and received an extension from the TSX Venture Exchange (the “TSXV“) for the completion of its “Qualifying Transaction” (as such term is defined in the policies of the TSXV). The new deadline date for the completion of the Corporation’s Qualifying Transaction (the “New Deadline Date“) is January 31, 2018.
The Corporation is a capital pool company and as such it is required to complete a Qualifying Transaction before the New Deadline Date. If the Corporation does not complete a Qualifying Transaction before the New Deadline Date the Corporation’s shares will be transferred to the NEX board of the TSXV (the “NEX“). The NEX is a distinct trading board of the TSXV designed for listed issuers which were previously listed on the TSXV or the Toronto Stock Exchange that have been unable to meet the ongoing listing requirements of those markets. If the Corporation transfers to the NEX it must continue to comply with all of the requirements and restrictions of the TSXV Policy 2.4 – Capital Pool Companies (“Policy 2.4“). Pursuant to Policy 2.4, the Corporation will be required to cancel certain seed shares if it transfers to the NEX. For more information regarding the cancelation of certain seed shares please refer to the Corporation’s Management Information Circular dated April 1, 2017, a copy of which is available on the Corporation’s SEDAR profile at www.sedar.com.
The Corporation is currently trading on the TSXV and is in the process of identifying and evaluating various assets and businesses with a view to completing a Qualifying Transaction and plans to complete a Qualifying Transaction before the New Deadline Date.
Cautionary Statements
This news release includes certain statements that may be deemed “forward-looking statements” within the meaning of applicable Canadian securities legislation. Specifically, this news release includes, but is not limited to, forward-looking statements with respect to the Corporation completing a Qualifying Transaction and the Corporation’s possible transfer to the NEX. Generally, forward-looking statements can be identified by the forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “projects”, “intends”, “anticipates”, or “does not anticipate”, or “believes”, or “variations of such words and phrases or state that certain actions, events or results “may”, “can”, “could”, “would”, “might”, or “will” be taken”, “occur” or “be achieved”. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks associated with general economic conditions, adverse industry events, loss of markets, inability to access sufficient capital from internal and external sources and/or inability to access sufficient capital on favourable terms, income tax and regulatory matters, competition, currency and interest rate fluctuations, regulatory approvals including final approval from the TSXV for the Qualifying Transaction and approval in respect of the possible transfer to the NEX. Although the Corporation has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements will prove accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Jason Krueger
Director, President, Chief Executive Officer and
Corporate Secretary
(587) 585-1776
Vier Capital Corp.
David McGoey
Director and Chief Financial Officer
(403) 874-8214