BGP ACQUISITION CORP. ANNOUNCES EXTENSION OF PERMITTED TIMELINE FOR COMPLETION OF ITS QUALIFYING TRANSACTION
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, BC, July 26, 2022 /CNW/ - BGP Acquisition Corp. (NEO: BGP.U) (NEO: BGP.WT.U) (OTCQX: BGPPF) (OTCQX: BGPAF) (the "Corporation" or "BGP") announced today that it has executed a letter of intent in connection with a potential transaction, which would, if consummated, qualify as its qualifying transaction. Accordingly, BGP's permitted timeline in which to close a qualifying transaction has been automatically extended to November 4, 2022.
The letter of intent is non-binding and the transaction is subject to a number of conditions including, among others, the negotiation and execution of a definitive agreement. The Corporation intends to disclose additional details regarding the transaction, which the Corporation currently expects to occur in the third quarter of 2022, following the execution of a definitive agreement, if applicable. There can be no assurance that a definitive agreement will be entered into or a qualifying transaction will be completed.
BGP Acquisition Corp. is a special purpose acquisition corporation incorporated under the laws of the Province of British Columbia for the purpose of effecting, directly or indirectly, a qualifying transaction within a specified period of time.
This press release may contain forward–looking information within the meaning of applicable securities legislation, which reflects the Corporation's current expectations regarding future events including the proposed Business Combination. 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 the Corporation's control, that 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, timing and requirements applicable to completion of a qualifying transaction, failure to enter into a definitive agreement or complete a qualifying transaction, inability to obtain requisite regulatory approvals, changes in general economic, business and political conditions, changes in applicable laws, compliance with extensive government regulation, as well as the factors discussed under "Risk Factors" in the final prospectus of BGP dated January 28, 2021, a copy of which is available on SEDAR at www.sedar.com. The Corporation does not undertake any 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.
The NEO Exchange does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE BGP Acquisition Corp.
BGP Acquisition Corp., Don Jennings, Chief Financial Officer, President and Corporate Secretary, [email protected], 415-237-1747
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