TORONTO, Dec. 6, 2019 /CNW/ - Victory Capital Corp.
(TSXV: VIC.P) (the "Company" or "Victory"), a capital
pool company pursuant to TSX Venture Exchange (the
"Exchange") Policy 2.4 – Capital Pool Companies (the
"CPC Policy"), announces that the deadline for the
Company to complete its Qualifying Transaction, as defined in the
CPC Policy ("QT"), was November 25,
2019 (the "Effective Date"). As the Company did not
complete a QT prior to the Effective Date, the common shares of the
Company were suspended from trading at the opening on November 29, 2019. Notwithstanding the foregoing,
the Company continues to evaluate various acquisition opportunities
with a view to completing a QT in accordance with the CPC Policy as
soon as practicable.
Termination of Letter of Intent with EquineX
The
Company announces that further to its press release dated
June 21, 2019, the letter of intent
("LOI") between Victory and 1788938 Ontario Ltd., operating
as EquineX North America to complete a QT has been terminated in
accordance with the provisions of the LOI and the transaction
contemplated therein will not proceed. As noted above, the Company
will continue to evaluate opportunities with a view to completing a
QT.
Resignation of Mike
Marrandino
Victory announces that effective
September 24, 2019, Mike Marrandino resigned from the board of
directors of the Company. The Company would like to thank Mr.
Marrandino for his valuable contributions to the Company and wish
him success in his future endeavors. At this time, the Company will
not be filling the board vacancy created by Mr. Marrandino's
resignation.
About Victory Capital
Victory was incorporated on
November 6, 2009 pursuant to the
Business Corporation Act (Ontario) and is classified as a Capital Pool
Corporation as defined in Policy 2.4 of the TSX Venture Exchange
Inc. Corporate Finance Manual. For more information, contact
Chris Frostad, Chief Executive
Officer, Victory Capital Corp. at cfrostad@purepoint.ca
Forward-Looking Statements
This news release contains
certain statements that may constitute forward-looking information
under applicable securities laws. All statements, other than those
of historical fact, which address activities, events, outcomes,
results, developments, performance or achievements that Victory
anticipates or expects may or will occur in the future (in whole or
in part) should be considered forward-looking information. Such
information may involve, but is not limited to, comments with
respect to strategies, expectations, planned operations and future
actions of the Company. Often, but not always, forward-looking
information can be identified by the use of words such as "plans",
"expects", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "believes" or variations
(including negative variations) of such words and phrases, or
statements formed in the future tense or indicating that certain
actions, events or results "may", "could", "would", "might" or
"will" (or other variations of the forgoing) be taken, occur, be
achieved, or come to pass. Forward-looking information is based on
currently available competitive, financial and economic data and
operating plans, strategies or beliefs as of the date of this news
release, but involve known and unknown risks, uncertainties,
assumptions and other factors that may cause the actual results,
performance or achievements of Victory to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking information. Such factors may be
based on information currently available to Victory, including
information obtained from third-party industry analysts and other
third-party sources, and are based on management's current
expectations or beliefs regarding future growth, results of
operations, future capital (including the amount, nature and
sources of funding thereof) and expenditures. Any and all
forward-looking information contained in this press release is
expressly qualified by this cautionary statement.
Investors are cautioned that, except as disclosed in the
Filing Statement any information released or received with respect
to the reverse take-over may not be accurate or complete and should
not be relied upon. Trading in the securities of the Corporation
should be considered highly speculative.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
The securities of the Corporation have not been and will not
be registered under the United States Securities Act of 1933, as
amended and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirement. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful.
SOURCE Victory Capital Corp.