Vancouver, British Columbia--(Newsfile Corp. - April 4, 2025) - Pardus Ventures Inc. (TSXV: PDVN.P) ("Pardus" or the "Company"), a capital pool company pursuant to Policy 2.4 (the "CPC Policy") of the TSX Venture Exchange (the "TSXV"), provides an update regarding its previously announced qualifying transaction (the "QT") with EGL Technology Holdings Co. Ltd. ("EGL Holdings"), as disclosed in the Company's news release dated March 6, 2025, whereby the Company proposes to acquire from EGL Holdings all of the issued and outstanding securities of Easy Access Intelligence Company Ltd. ("Easy Access") which will also include its subsidiaries, Easy Growth Holdings Pte. Ltd. ("EGH"), Easy Growth Logtech Co. Ltd. ("EGL") and EGL Smart Logitech (Canada) Inc. ("EGL Canada") (EGL Holdings, Easy Access, EGH, EGL Canada, and EGL are collectively known as the "Target Group".)
Pardus continues to engage in discussions with EGL regarding the exact amount of consideration to be issued as part of the QT. This remains subject to further negotiations between both parties.
In addition, Pardus is in active discussions with EGL and potential investors to determine the gross amount and intended financing price of the financing associated with the QT. These terms have not yet been finalized and remain under review.
The Company is also continuing its due diligence process on the Target Group, in line with the requirements of TSXV Corporate Finance Policy 2.4.
As previously disclosed, trading in the common shares of Pardus remains halted and will continue to be halted until all TSXV requirements for resumption have been met. The Company will provide further updates regarding the QT as material developments occur.
Completion of the QT remains subject to various conditions, including but not limited to, TSXV acceptance and Pardus shareholder approval.
About Pardus Ventures Inc.
Pardus Ventures Inc., a capital pool company within the meaning of the CPC Policy of the TSXV, was incorporated in British Columbia on December 9, 2022 and its common shares were listed on the TSXV on July 31, 2023. The Company does not have any operations and has no assets other than cash. The Company's business is to identify and evaluate businesses and assets with a view to completing a qualifying transaction (as such term is defined in the CPC Policy).
Additional Information
All information contained in this press release with respect to the Target Group was provided by the Target Group to the Company for inclusion herein. The Company and its directors and officers have not independently verified such information and have relied exclusively on the Target Group for any information concerning the Target Group.
Completion of the QT is subject to a number of conditions, including, but not limited to, TSXV acceptance and, if applicable, pursuant to TSXV requirements, majority of minority shareholder approval. Where applicable, the QT cannot close until the required shareholder approval is obtained. There can be no assurance that the QT will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the filing statement or information circular, as the case may be, to be prepared in connection with the QT, any information released or received with respect to the QT may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange has in no way passed on the merits of the proposed QT and has neither approved nor disapproved the contents of this press release.
Contact Information
For more information, please contact:
Herrick Lau, Director and CEO
Telephone: 1-778-990-5483
E-mail: hmtlau@gmail.com
Disclaimer for Forward-Looking Information
This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein may be forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans" "expects" or "does not expect", "proposed", "is expected", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information in respect of the Company and the Target Group reflects the Company's and the Target Group's, as the case may be, current beliefs and is based on information currently available to the Company and the Target Group, respectively, and on assumptions the Company and the Target Group, as the case may be, believes are reasonable. These assumptions include, but are not limited to, management's assumptions about TSXV approval for the QT, closing of the concurrent financing, the ability to obtain a waiver from the sponsorship requirements, the resulting issuer's anticipated share structure, the business plans of the Target Group, any plans for any future stock exchange listings, and the Company's ability to realize the anticipated benefits of the QT.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, the Target Group or the resulting issuer to be materially different from those expressed or implied by such forward-looking information. Although the Company and the Target Group have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release represent the expectations of the Company and the Target Group as of the date of this press release and, accordingly, are subject to change after such date. However, each of the Company and the Target Group expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
Neither 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 press release.
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SOURCE: Pardus Ventures Inc.
