Buzz Capital Announces Letter of Intent With Grata Technologies Inc. Lapses
Buzz Capital Announces Letter of Intent With Grata Technologies Inc. Lapses
Buzz is a capital pool company pursuant to the Policy, and in accordance with the Policy, until the completion of its Qualifying Transaction (as defined in the Policy) Buzz's principal business is the identification and evaluation of companies, businesses or assets with a view to completing a Qualifying Transaction. Investors are cautioned that trading in the securities of a capital pool company is considered highly speculative. Ottawa, Ontario--(Newsfile Corp. - April 17, 2023) - Buzz Capital Inc. (TSXV: BUZ.P) (the "Corporation") announces that the proposed business combination between the Corporation and Grata Technologies Inc. ("Grata") originally announced on May 27, 2021, will not be proceeding. A number of conditions precedent contained in a letter of intent dated May 18, 2021 (the "LOI") have not been satisfied and, as a result, the LOI has lapsed. There are no penalty or break-up fees payable by either party nor were any deposits paid by the Corporation to Grata.
安大略省渥太華--（Newsfile Corp.——2023年4月17日）-Buzz Capital IncTSXV: BUZ.P) (那個”公司“) 宣佈公司與 Grata Technologies Inc. 之間的擬議業務合併 (”格拉塔“) 最初於2021年5月27日宣佈，將不會繼續進行。2021 年 5 月 18 日的意向書（“意向書”）中包含的許多先決條件未得到滿足，因此，意向書已失效。任何一方都沒有支付任何罰款或分手費，公司也沒有向Grata支付任何押金。
Although the termination of the LOI with Grata is disappointing, the Corporation continues to have adequate cash resources (over $400,000 as at the date hereof) to continue to search for prospective opportunities to complete its qualifying transaction and maximize shareholder value. The Corporation is also in the process of applying to TSXV for resumption of trading in its common shares and will issue a further news release when a date has been determined.
儘管終止與Grata的意向令人失望，但公司仍然有足夠的現金資源（截至本文發佈之日超過40萬美元），可以繼續尋找潛在機會來完成符合條件的交易並實現股東價值最大化。該公司還正在向多倫多證券交易所申請恢復其普通股交易，並將在確定日期後發佈進一步的新聞稿。
About Buzz Capital Inc.
關於巴茲資本公司
Buzz is a capital pool company pursuant to the Policy, and in accordance with the Policy, until the completion of its Qualifying Transaction (as defined in the Policy) Buzz's principal business is the identification and evaluation of companies, businesses or assets with a view to completing a Qualifying Transaction. Investors are cautioned that trading in the securities of a capital pool company is considered highly speculative.
根據本政策，Buzz 是一家資本池公司，根據該政策，在符合條件的交易（定義見政策）完成之前，Buzz 的主要業務是識別和評估公司、企業或資產，以期完成合格交易。投資者請注意，資本池公司的證券交易被認爲具有高度的投機性。
For further information please contact:
欲瞭解更多信息，請聯繫：
Buzz Capital Inc.
Chuck Rifici, President and CEO
Telephone: 613-366-3631
Email: chuck@rifici.com
巴茲資本公司
查克·裏菲奇，總裁兼首席執行官
電話：613-366-3631
電子郵件：chuck@rifici.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
多倫多證券交易所及其監管服務提供商（該術語在多倫多證券交易所的政策中定義）均不對本新聞稿的充分性或準確性承擔責任。
To view the source version of this press release, please visit
要查看本新聞稿的源版本，請訪問
譯文內容由第三人軟體翻譯。
