Toronto, Ontario--(Newsfile Corp. - May 14, 2024) - Impact Development Group Inc. (TSXV: IMPT) (formerly Yubba Capital Corp.) ("Impact Development Group" or the "Company") announced today that trading in the Company's securities will be suspended for failure to maintain the TSX Venture Exchange (the "Exchange") requirements. Re-instatement to trading can occur only when the Exchange has concluded its reinstatement review to ensure the Company has satisfactorily complied with Exchange requirements.
If the Company does not complete its reinstatement to Tier 2 as evidenced by the issuance of an Exchange bulletin, and/or is unable to meet Tier 2 Continued Listing Requirements ("CLR") by August 9, 2024, the Exchange may transfer the securities of the Company to NEX, without further notice to the Company.
About Impact Development Group
Impact Development Group is a Panamanian based real estate developer that provides affordable housing solutions to Panama's growing middle-class supported by a longstanding subsidized government program. The vision of IHC Panama is effectuated by a vertically integrated model which coordinates all services necessary to develop high-quality residential and commercial buildings, including land acquisition, financing, architectural, engineering, off-site manufacturing, general contracting, property management, and administration.
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.
For further information, please contact:
Tom Wenz, Director and CEO
Phone: + 1 (702) 329-8038
Email: twenz@ihcpanama.com
Forward-Looking Information
This document contains forward-looking statements about expected future events with respect to trading in the common shares of the Company. Actual results may vary from the forward-looking information. The Company may not be able to successfully complete its reinstatement to Tier 2. Risks and uncertainties exist that may cause actual results to differ materially from those indicated or implied in the forward-looking statements and information, such as: the Company's ability to complete a reinstatement application; the Company's ability to meet Tier 2 CLR; the Exchange's approval of the reinstatement application; reliance on key management; disruptions or changes in the credit or security markets; unanticipated costs and expenses; and general market and industry conditions. The forward-looking statements, while considered reasonable by the Company, are inherently based upon assumptions that are subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/209155
SOURCE: Impact Development Group Inc.
