Hoist Capital Corp. Special Shareholders Meeting - New CPC Policy

CALGARY, AB, June 1, 2021 /CNW/ - Hoist Capital Corp.  (TSXV: HTE.P) (the "Corporation") announces that it will be holding a special meeting (the "Meeting") of shareholders on June 24, 2021 to obtain the benefits under TSX Venture Exchange (the "Exchange") Policy 2.4 Capital Pool Companies, (the "New CPC Policy") implemented on January 1, 2021.

The Corporation will be tabling the following matters at the Meeting for approval by disinterested shareholders in order to obtain the benefits under the New CPC Policy: (i) removing the consequences of the Corporation failing to have completed a Qualifying Transaction within 24 months of listing on the Exchange. These consequences include the delisting or suspension of the Corporation's common shares on the Exchange, or subject to the approval of the majority of the Corporation's shareholders, transferring the listing the NEX board of the Exchange and the cancellation of certain seed shares held by non-arm's length parties to the Corporation; (ii) amending the Exchange Form 2C Escrow Agreement entered into by certain holders of seed shares of the Corporation to replace the current 36 month escrow release term to an accelerated 18 month release term; and (iii) permitting the payment of finder's fees to related parties of the Corporation in conjunction with a Qualifying Transaction in accordance with the policies of the Exchange. 

About the Corporation

The Corporation is a CPC within the meaning of the New CPC Policy that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the New CPC Policy, until the completion of a Qualifying Transaction the Corporation will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a Qualifying Transaction. Investors are cautioned that trading in the securities of a CPC is considered highly speculative.

NEITHER 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 PRESS RELEASE.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the approval of disinterested shareholders of matters under the New CPC Policy at the general and special shareholder meeting and the future business of the Corporation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "is expected", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", "believes", or variations of such words and phrases; or terms that state that certain actions, events, or results "may", "could", "would", "might", or "will be taken", "could occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on, a number of assumptions and is subject to known and unknown risks, uncertainties and other factors, including but not limited to the timing of obtaining the necessary approvals of the shareholders and the TSXV. Although the Corporation has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Corporation does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES, THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1993, AS AMENDED, OR ANY SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

SOURCE Hoist Capital Corp.

Arif Shivji, President, Tel: [phone], [email protected]