Vancouver, British Columbia – October 26, 2021 (Newsfile Corp.) (Investorideas.com Newswire) LOOPShare Ltd. (TSXV: LOOP) (OTC: LPPPF) (FSE: 3KZ0) (“LOOPShare” or the “Company”) announces that it has received conditional approval from the Canadian Securities Exchange (the “CSE”) to list the shares of the Company for trading on the CSE following the completion of its previously announced transaction with VGAN Brands Inc. (“VGAN”).
The Company previously announced that it had entered into a Share Exchange Agreement with VGAN whereby the Company has agreed to acquire all of the issued and outstanding securities of VGAN and the business of VGAN (the “Transaction”). For additional information on the Transaction please refer to the Company’s news release dated July 8, 2021 which is available on SEDAR at www.sedar.com. In addition, prior to listing the Company will file on SEDAR a Listing Statement that provides the full details of the Transaction and resulting issuer.
The closing of the Transaction and the listing of the Company’s shares on the CSE remains subject to the satisfaction of various conditions standard for a transaction of this nature, including but not limited to: (i) receipt of all necessary regulatory and third party consents, waivers and approvals, including the acceptance of the TSX Venture Exchange in respect of the voluntary de-listing of the Company’s shares; (ii) the closing of a concurrent financing by VGAN; and (iii) the completion of any and all outstanding CSE application documentation and payment of fees pursuant to the applicable CSE policies.
Completion of the Transaction is subject to a number of conditions, including Exchange acceptance. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the Listing Statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.
The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
For additional information on LOOPShare please refer to www.loopscooters.com.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” concerning anticipated developments and events related to LOOPShare Ltd. that may occur in the future. Forward-looking information contained in this news release includes, but is not limited to, (i) statements with respect to the Company’s future business objectives; (ii) removal of conditions relating to the completion of the Transaction; (iii) completion of the concurrent financing; and (iv) receipt of regulatory approvals of the Transaction.
In certain cases, forward-looking information can be identified by the use of words such as “expects”, “intends”, “anticipates” or variations of such words and phrases or state that certain actions, events or results “may”, “would”, or “might” suggesting future outcomes, or other expectations, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the timely receipt of regulatory approvals and the completion of the Concurrent Financing. While LOOPShare considers these assumptions to be reasonable, they may be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed by the forward-looking information. Such factors include risks related to acts of God, and the risk that regulatory approval will not be received for the Transaction or listing of the Company’s shares on the CSE, the ability to attract qualified management and staff, labour disputes, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; and the additional risks identified in the “Risk Factors” section of LOOPShare’s filings with applicable Canadian securities regulators.
Although LOOPShare has attempted to identify factors that could cause actual results to differ materially from those described in forward-looking information, there may be other factors that cause results not to be as anticipated. Readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
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