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TORONTO, July 25,
2022 /CNW/ - VM Hotel Acquisition Corp. (TSX: VMH.U)
(TSX: VMH.WT.U) ("VMH" or the "Company") announced
today that it has executed a letter of intent in connection with a
potential transaction, which would, if consummated, qualify as its
qualifying acquisition. Accordingly, VMH's permitted timeline in
which to close a qualifying acquisition has been automatically
extended to November 30,
2022.
The letter of intent is non-binding and the acquisition is
subject to a number of conditions including, among others, the
negotiation and execution of a definitive agreement. The Company
intends to disclose additional details regarding the acquisition
following the execution of a definitive agreement, if applicable.
There can be no assurance that a definitive agreement will be
entered into or a qualifying acquisition will be completed.
About VM Hotel Acquisition Corp.
VMH is a special purpose acquisition corporation incorporated
under the laws of the Province of British
Columbia for the purpose of effecting a qualifying
acquisition within a specified period of time. VMH's head office is
located at Brookfield Place, 161 Bay Street, Suite 2420,
Toronto, ON, M5J 2S1 and its
registered office is located at 1600 - 925 West Georgia Street
Vancouver, BC V6C 3L2.
Forward-Looking
Statements
This press release may contain forward-looking information
within the meaning of applicable securities legislation, which
reflects VMH's current expectations regarding future events. The
words "will", "expects", "intends" and similar expressions are
often intended to identify forward-looking information, although
not all forward-looking information contains these identifying
words. Specific forward-looking information contained in this press
release includes statements with respect to the Company's
qualifying acquisition. Forward-looking information is based on a
number of assumptions and is subject to a number of risks and
uncertainties, many of which are beyond VMH's control, which could
cause actual results and events to differ materially from those
that are disclosed in or implied by such forward-looking
information. Such risks and uncertainties include, but are not
limited to, timing and requirements applicable to completion of a
qualifying acquisition, failure to enter into a definitive
agreement and that there can be no assurance that the Company will
complete a qualifying acquisition. VMH does not undertake any
obligation to update such forward-looking information, whether as a
result of new information, future events or otherwise, except as
expressly required by applicable law.
The Toronto Stock Exchange does not accept responsibility for
the adequacy or accuracy of this press release.
SOURCE VM Hotel Acquisition Corp.