Green Rise Provides Update on Proposed Qualifying Transaction with Bull Market Farms Inc.

/NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S. NEWSWIRES/

TORONTO, June 7, 2019 /CNW/ - Green Rise Capital Corporation ("Green Rise") (TSX VENTURE: GRCC.P), a capital pool company, provides an update on the previously announced transaction whereby Green Rise expects to complete a business combination with Bull Market Farms Inc. ("Bull Market") that would constitute Green Rise's "Qualifying Transaction" (as such term is defined in TSX Venture Exchange ("TSXV") Policy 2.4 – Capital Pool Companies) if completed (the "Transaction"). Pursuant to an amending agreement dated June 7, 2019 (with effect as and from May 31, 2019) to the definitive agreement dated March 1, 2019 between Green Rise, its wholly owned subsidiary and Bull Market (the "Definitive Agreement"), the parties to the Definitive Agreement have agreed to (i) extend the proposed closing date of the Transaction until the third (3^rd) business day following the satisfaction or waiver of the conditions for closing of the Transaction set out in the Definitive Agreement, and (ii) extend the outside date for the closing date of the Transaction to July 31, 2019.

Further information regarding the Transaction is provided in Green Rise's press release dated March 1, 2019, Green Rise's material change report dated March 8, 2019 and the Definitive Agreement, all of which are available under Green Rise's profile on www.sedar.com.

ABOUT GREEN RISE

Green Rise is a capital pool company (CPC) formed under the TSXV CPC program. Green Rise's common shares will remain halted until Green Rise satisfies the requirements of the TSXV for resuming the trading of the Green Rise shares or until completion of the Transaction.

Completion of the Transaction is subject to a number of conditions including, but not limited to, TSXV acceptance. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the Filing Statement and/or an Information Circular to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this Press Release. 

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the proposal to complete the Transaction and associated transactions, including statements regarding the terms and conditions of the Transaction and associated transactions. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "projects", "plans" and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the parties will not proceed with the Transaction and associated transactions, that the ultimate terms of the Transaction and associated transactions will differ from those that currently are contemplated, and that the Transaction and associated transactions will not be successfully completed for any reason (including the failure to obtain the required approvals or clearances from regulatory authorities). The statements in this news release are made as of the date of this release. Green Rise undertakes no obligation to update any such forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on any such forward-looking statements. Green Rise undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Green Rise and Bull Market, or their respective financial or operating results or (as applicable), their securities.

SOURCE Green Rise Capital Corporation

Green Rise: Vincent Narang, Chief Executive Officer, Phone: [phone], E-mail: [email protected]; Bull Market: Matthew Tatomir, Phone: [phone], E-mail:[email protected]