Calgary, Alberta--(Newsfile Corp. - March 15, 2024) - Trail Blazing Ventures Ltd. (TSXV: BLAZ.P) (the "Corporation" or "TBV"), a capital pool company under the policies of the TSX Venture Exchange (the "TSXV"), is pleased to announce that at its annual and special meeting of shareholders held earlier today (the "Meeting"), shareholders of TBV approved the resolutions necessary to give effect to the proposed qualifying transaction (the "Qualifying Transaction") with Hempalta Inc. ("HEMPALTA").
The resolution in respect of the Qualifying Transaction was approved by 99.62% of votes cast by the minority shareholders of TBV. Additionally, TBV shareholders approved all of the other annual and special meeting matters set forth in the notice of meeting and management information circular for the Meeting.
The closing of the Qualifying Transaction is anticipated to take place on or about March 19, 2024. The Qualifying Transaction remain subject to a number of closing conditions, as described in the Corporation's management information circular (the "Circular") in respect of the Meeting, which is available on SEDAR+ under the Corporation's profile at www.sedarplus.ca.
About TBV
TBV is a capital pool company (a "CPC") that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the TSXV's CPC Policy, until the completion of its qualifying transaction, TBV will not carry on business, other than the identification and evaluation of businesses or assets with a view to completing a proposed qualifying transaction.
About HEMPALTA
HEMPALTA is a private company incorporated under the Business Corporations Act (Alberta). HEMPALTA makes products from hemp grown sustainably in Southern Alberta and processes the hemp using a state-of-the-art HempTrain Advanced Processing Plant at the company's production facility in Calgary, Alberta into various consumer products which are sold and distributed through various retail channels. HEMPALTA is led by passionate advocates for industrial hemp who have years of operations, manufacturing, marketing, consumer packaged goods, and retail sales experience. In 2023, HEMPALTA was named one of the Top 10 Startups by Calgary's Launch Party and one of the 50 most investable cleantech companies in Canada by Foresight Canada.
For more Information, please contact:
Craig Steinberg
Director
Trail Blazing Ventures Ltd.
Telephone: 1-800-503-1875
Email: info@trailblazingventures.com
Darren Bondar
Chief Executive Officer
Hempalta Inc.
Telephone: 1-877-622-3354
Email: info@hempalta.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The TSXV has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the content of this press release.
Cautionary Note Regarding Forward-Looking Information
Certain information contained in this press release may contain forward-looking information within the meaning of applicable securities laws. The use of any of the words "will", "anticipated" and similar expressions are intended to identify forward-looking information. More particularly and without limitation, this press release contains forward-looking information concerning the expected process for and timing of implementing the Qualifying Transaction, and the completion of the Qualifying Transaction and the expected timing thereof. Such forward-looking information is based on a number of assumptions and factors which may prove to be incorrect, including, but not limited to, assumptions regarding the satisfaction of the conditions to closing of the Qualifying Transaction. Events or circumstances may cause actual results to differ materially from those predicted, as a result of the risk factors set out and other known and unknown risks, uncertainties, and other factors, many of which are beyond the control of TBV. Such information may prove to be incorrect, and readers are cautioned that the information may not be appropriate for other purposes. Although the Corporation believes that the expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because the Corporation can give no assurance that such expectations will prove to be correct. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used. As a consequence, actual results may differ materially from those anticipated in the forward-looking information. Additional factors are noted under "Risk Factors" in the Circular, which is available on SEDAR+ under the Corporation's profile at www.sedarplus.ca. The forward-looking information contained herein is made as at the date hereof and the Corporation does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The Corporation's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/201980
SOURCE: Trail Blazing Ventures Ltd.
