(TheNewswire)
VANCOUVER, BC – TheNewswire - September 29 , 2022 – Hopefield Ventures Inc. ( TSXV:HVI.P )(“ Hopefield ”) announces that it has terminated the share exchangeagreement (the “ ShareExchange Agreement ”) with Madali Ventures Inc.(“ Madali ”) and the shareholders of Madali, which was announced onFebruary 1, 2022.
Hopefield will continue to seek a qualifyingtransaction in accordance with the policies of the TSX VentureExchange (the “ Exchange ”) and will provide further updatesin due course. A bridge loan of $100,000 (the “ Loan Amount ”) wasadvanced by Hopefield to Madali, as announced on July 19, 2022, inconnection with the proposed transaction. The Loan Amount, plusinterest owing, is due and repayable by Madali within thirty days ofthe termination of the Share Exchange Agreement.
Trading in the common shares of Hopefield was halted asof December 9, 2021 in connection with the execution of a letter ofintent with Madali, which was superseded by the Share ExchangeAgreement. Hopefield will seek to resume trading on the Exchange assoon as possible.
About Hopefield
Hopefield is a “capital pool company” within themeaning of the policies of the Exchange that has not commencedcommercial operations and has no assets other than cash. Except asspecifically contemplated in the Exchange's CPC policy, until thecompletion of its Qualifying Transaction (as defined under the policies of the Exchange) ,Hopefield will not carry on business, other than the identificationand evaluation of companies, business or assets with a view tocompleting a proposed Qualifying Transaction.
For further information, pleasecontact:
Mark Binns, Chief Executive Officer
Telephone: (604) 681-0084
Email: mark.binns1@gmail.com
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
This news release may containcertain “Forward-Looking Statements” as defined under applicableCanadian securities laws. When or if used in this news release, thewords “anticipate”, “believe”, “estimate”, “expect”,“target, “plan”, “forecast”, “may”, “schedule” andsimilar words or expressions identify forward-looking statements orinformation. These forward-looking statements or information mayrelate to: identifying a potential qualifying transaction; repaymentof amounts owed to Hopefield by Madali; and the resumption of tradingof Hopefield’s common shares.
Forward-looking information is basedupon certain material assumptions that were applied in drawing aconclusion or making a forecast or projection, including management'sperceptions of historical trends, current conditions and expectedfuture developments, as well as other considerations that are believedto be appropriate in the circumstances. While management of Hopefieldconsiders these assumptions to be reasonable based on informationcurrently available, there is no assurance that such expectations willprove to be correct. By its nature, forward-looking information issubject to inherent risks and uncertainties that may be general orspecific and which give rise to the possibility that expectations,forecasts, predictions, projections or conclusions will not prove tobe accurate, that assumptions may not be correct and that objectives,strategic goals and priorities will not be achieved. Among the keyfactors that could cause actual results to differ materially fromthose projected in the forward-looking information include: changes ingeneral economic, business and political conditions, including changesin the financial markets; changes in applicable laws; and changes ingovernment regulation and regulatory compliance. Should one or more ofthese risks, uncertainties or other factors materialize, or shouldassumptions underlying the forward-looking information or statementsprove incorrect, actual results may vary materially from thosedescribed herein as intended, planned, anticipated, believed,estimated or expected. Readers are cautioned to consider these andother factors, uncertainties and potential events carefully and not toput undue reliance on forward-looking information.
The forward-looking informationcontained in this news release is stated as of the date of this newsrelease. Hopefield does not intend, and does not assume anyobligation, to update these forward-looking statements or informationto reflect changes in assumptions or changes in circumstances or anyother events affecting such statements and information other than asrequired by applicable laws, rules and regulations.
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