Toronto, Ontario--(Newsfile Corp. - September 27, 2021) - Stormcrow Holdings Corp. (TSXV: CROW.P) ("Stormcrow" or the "Company") announces today that it intends to provide a loan to Highmark Innovations Inc. ("Highmark") in the amount of up to $350,000 (the "Target Loan"). Highmark is the proposed target for the Company's Qualifying Transaction, as such term is defined in policies of the TSX Venture Exchange (the "Exchange"). Please see the Company's press releases dated June 11, 2021, May 10, 2021, and December 11, 2020 for further information regarding the Qualifying Transaction.
The Target Loan is intended to provide Highmark with working capital as the parties progress towards completion of the Qualifying Transaction. In accordance with Exchange policies, the Target Loan will be secured, and in the event the Qualifying Transaction is not completed, will be repaid in full to the Company. The Target Loan is also subject to the prior approval of the Exchange.
For further information:
Stormcrow Capital Corp.
Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable pursuant to TSXV requirements, majority of the minority shareholder approval. 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.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the Qualifying Transaction and has neither approved nor disapproved the contents of this press release.
NEITHER THE 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 RELEASE.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
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