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TORONTO, Dec. 22,
2023 /CNW/ - VM Hotel Acquisition Corp. (TSX:
VMH.U) (TSX: VMH.WT.U) ("VMH" or the "Company"), a
special purpose acquisition company ("SPAC"), today
announced that the Company and The Pyure Company Inc.
("Pyure") have decided not to proceed with the Company's
proposed acquisition of Pyure. The proposed transaction with Pyure
was originally announced by the Company on September 22, 2022 and was to constitute its
qualifying acquisition.
The Company is currently working with stakeholders to determine
how to best proceed in light of the upcoming expiry of its
permitted timeline to consummate a qualifying acquisition. The
permitted timeline is set to expiry on February 29, 2023. The Company will provide an
additional update when appropriate to do so.
About VM Hotel Acquisition Corp.
VMH is a SPAC
incorporated under the laws of the Province of British
Columbia for the purpose of
effecting a qualifying acquisition within
a specified period of time. VMH's head office is
located at Brookfield Place, 161 Bay Street, Suite 2420,
Toronto, ON, M5J 2S1 and its
registered office is located at 1600 - 925 West Georgia Street
Vancouver, BC V6C 3L2.
Forward-Looking
Statements
This press release may contain forward-looking information
within the meaning of applicable securities legislation, which
reflects VMH's current expectations regarding future events. The
words "will", "expects", "intends" and similar expressions are
often intended to identify forward-looking information, although
not all forward-looking information contains these identifying
words. Specific forward-looking information contained in this press
release includes statements with respect to the Company's
qualifying acquisition. 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 VMH's control, which could
cause actual results and events to differ materially from those
that are disclosed in or implied by such forward-looking
information. Such risks and uncertainties include, but are not
limited to, that there can be no assurance that the Company will
complete a qualifying acquisition. VMH undertake no 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 VM Hotel Acquisition Corp
