Alberton Acquisition Corporation Terminates the Merger Agreement
April 22 2022 - 6:46PM
As previously disclosed, on April 13, 2022, Alberton Acquisition
Corp. (the “Company”) was notified by SolarMax Technology, Inc., a
Nevada corporation (“SolarMax”) that it intended to terminate an
agreement and plan of merger, dated as of October 27, 2020 (as
amended, the “Merger Agreement”) because it reasonably believed
that the proposed merger (the “Merger”) between the Company and
SolarMax would not be completed by April 26, 2022.
On April 20, 2022, the Company received a written notice from
SolarMax that SolarMax terminates the Merger Agreement pursuant to
the termination clause provided in the Merger Agreement.
On April 22, 2022, the Company received the determination notice
from the Nasdaq Hearings Panel (“the Panel”) to delist the
Company’s shares from Nasdaq and suspend trading in those shares
effective at the open of trading of April 26, 2022 because the
Company is not expected to complete the initial business
combination by April 26, 2022.
The Company will liquidate its trust account and distribute
payments to public shareholders of the record date of April 26,
2022.
About Alberton
Alberton is a British Virgin Islands blank check company, also
commonly referred to as a Special Purpose Acquisition Company, or
SPAC, formed for the purpose of effecting a merger, asset
acquisition or other business combination with one or more
businesses or entities. Alberton’s units, ordinary shares and
warrants are currently listed on the Nasdaq Capital Market under
the symbols “ALACU,” “ALAC” and “ALACW, respectively.
Cautionary Note Regarding
Forward-Looking Statements
This press release includes “forward-looking statements” that
involve risks and uncertainties that could cause actual results to
differ materially from what is expected. Words such as “expects”,
“believes”, “anticipates”, “intends”, “estimates”, “seeks”, “may”,
“might”, “plan”, “possible”, “should” and variations and similar
words and expressions are intended to identify such forward-looking
statements, but the absence of these words does not mean that a
statement is not forward-looking. Such forward-looking statements
relate to future events or future results, based on currently
available information and reflect Alberton management’s current
beliefs. A number of factors could cause actual events or results
to differ materially from the events and results discussed in the
forward-looking statements. In addition, please refer to the
“Cautionary Note Regarding Forward-Looking Statements,” “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” sections of Alberton’s S-4,
its Annual Reports on Form 10-K, its Quarterly Reports on Form 10-Q
and all other filings with the Commission for additional
information identifying important factors that could cause actual
results to differ materially from those anticipated in the forward
looking statements. Except as expressly required by applicable
securities law, Alberton disclaims any intention or obligation to
update or revise any forward looking statements whether as a result
of new information, future events or otherwise.
Company Contact:
Gateway Group, Inc. ALAC@gatewayir.com
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