Vancouver, British Columbia--(Newsfile Corp. - January 29, 2025) - Penbar Capital Ltd. (TSXV: PEM.P) ("Penbar") announced today that further to its news releases dated February 7, 2024, January 10, 2024, November 27, 2023, November 15, 2023, October 31, 2023, and October 4, 2023, it will not be proceeding with its proposed amalgamation with Emissions EV Technologies Inc. ("EV") under the original terms at this time, and that the amalgamation agreement dated November 24, 2023 between Penbar, EV, Emissions EV Operating Corp., a wholly-owned subsidiary of EV, and 1451356 B.C. Ltd., a wholly-owned subsidiary of Penbar, has been terminated pursuant to section 7.2 of the amalgamation agreement.
Penbar is currently evaluating alternative acquisition opportunities with a view to completing its qualifying transaction.
Reader Advisory
The TSX-V has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
Neither the TSX-V nor its regulation services provider (as that term is defined in the Policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this press release.
None of the securities of Penbar or EV have been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law, and may not be offered or sold in the United States or to, or for the account or benefit of, persons in the United States or "U.S. persons" (as such term is defined in Regulation S under the U.S. Securities Act) absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
Forward-Looking Information Advisory
This press release contains "forward-looking information", which is disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action The following table identifies the significant forward-looking information in this press release, and states the material factors or assumptions used to develop the forward-looking information, as well as the material risk factors that could cause actual results to differ materially from the forward looking information.
Penbar's views regarding possible events, conditions or financial performance may change. However, Penbar does not intend to update the forward-looking information in this press release, except as required by applicable securities legislation.
Further Information
For further information, please contact:
David Eaton
President and Chief Executive Officer
Telephone: (604) 688-9588
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238763
SOURCE: Penbar Capital Ltd.
