TORONTO, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Cedarmont Capital Corp. (the “Company” or “Cedarmont”) (TSXV:CCCA.P), a capital pool company pursuant to policies of the TSX Venture Exchange (the “Exchange”), is pleased to announce the voting results of its special meeting of shareholders held on November 29, 2021 (the “Meeting”), as set out in the Company’s management information circular dated October 25, 2021 delivered in connection with the Meeting (the “Circular”).
As previously announced, the Company entered into a definitive business combination agreement (the “Definitive Agreement”) with Shiny Bud Inc. (“Shiny Bud”) and Mihi Inc. (“Mihi”) dated September 22, 2021, to complete a proposed business combination (the “Transaction”), upon completion of which the resulting issuer (the “Resulting Issuer”) will carry on the business of Shiny Bud and Mihi. Pursuant to the Definitive Agreement, the Company agreed to call the Meeting to seek shareholder approval of the matters set out in the Circular, which was necessary in order for the Company to be able to satisfy certain conditions to the completion of the Transaction.
Shareholders approved all of the matters set out in the Circular, including (i) the election of the Resulting Issuer board of directors to hold office following completion of the Transaction, (ii) the appointment of BDO Canada LLP as auditor of the Company following completion of the Transaction, and (iii) the approval of a new long-term omnibus incentive plan effective upon completion of the Transaction. The total number of shares represented in person or by proxy at the Meeting was 3,395,000, representing 26.1% of the total issued and outstanding shares in the capital of the Company, all of whom voted in favour of the matters set out in the Circular.
For further information:
Cedarmont Capital Corp.
Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward Looking Information
This news release contains “forward-looking information” within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer’s business, capital, or operations that is prospective in nature, and includes future-oriented financial information about the issuer’s prospective financial performance or financial position. The forward-looking information in this news release includes disclosure about the anticipated closing of the Transaction. Cedarmont made certain material assumptions, including but not limited to: prevailing market conditions; general business, economic, competitive, political and social uncertainties; and delay or failure to receive board, shareholder or regulatory approvals to develop the forward-looking information in this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include, but are not limited to: adverse market conditions; the inability of the Company to complete the Transaction; as well as those risk factors discussed or referred to in disclosure documents filed by Cedarmont with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. The foregoing list of material risk factors and assumptions is not exhaustive. Should any factor affect Cedarmont in an unexpected manner, or should assumptions underlying the forward looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Cedarmont does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this news release is made as of the date of this news release and Cedarmont undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
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