VM HOTEL ACQUISITION CORP. REPORTS SECOND QUARTER 2022 FINANCIAL RESULTS

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES/

TORONTO, Aug. 4, 2022 /CNW/ - VM Hotel Acquisition Corp. (TSX: VMH.U) (TSX: VMH.WT.U) ("VMH") is reporting its financial results as of June 30, 2022 and for the three months ended June 30, 2022. VMH's unaudited interim financial statements have been filed on the System for Electronic Document Analysis and Retrieval ("SEDAR") and may be viewed by shareholders and interested parties under VMH's profile on SEDAR at www.sedar.com.

VMH announced on July 25, 2022 that it has executed a letter of intent in connection with a potential transaction, which would, if consummated, qualify as its qualifying acquisition. Accordingly, VMH's permitted timeline in which to close a qualifying acquisition has been automatically extended to November 30, 2022.

The letter of intent is non-binding and the acquisition is subject to a number of conditions including, among others, the negotiation and execution of a definitive agreement. The Company intends to disclose additional details regarding the acquisition 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 acquisition will be completed.

About VM Hotel Acquisition Corp.

VMH is a special purpose acquisition corporation 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.

SOURCE VM Hotel Acquisition Corp.

VM Hotel Acquisition Corp., Ian McAuley, President and CEO, [email protected]