/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE U.S./
TORONTO, March 22,
2022 /CNW/ - Cliffside Capital Ltd.
("Cliffside" or the "Company") (TSXV: CEP) today
announces that it has applied to the TSX Venture Exchange for an
extension to the exercise period of a total of 2,197,000 common
share purchase warrants (the "Extended Warrants") of the
Company from their current expiry date of March 26, 2022 to June 14,
2022 (the "Warrant Extension"). The Extended Warrants
have an exercise price of $0.22 per
common share and were issued to certain standby guarantors of the
Company in connection with the Company's rights offering that
closed on March 27, 2019.
The expiry date of the Extended Warrants is being extended in
order to maintain the Extended Warrants as a potential source of
financing for the Company by providing certain insiders of the
Company that hold Extended Warrants, including each of Michael Stein, Mark
Newman and Lawrence Zimmering
(the "Insiders"), with an extended opportunity to exercise
their Extended Warrants. Such Insiders are currently prohibited
from exercising their Extended Warrants pursuant to the terms of
the Company's insider trading policy, as the Company and its
insiders are currently in "blackout" under the terms of such
policy. The Warrant Extension is subject to the approval of the TSX
Venture Exchange.
About Cliffside
Cliffside is focused on investing in strategic partnerships with
parties who have specialized expertise and a proven track record in
originating and servicing loans and similar types of financial
assets. Cliffside's strategy is to generate revenue as an investor,
affording its shareholders an opportunity to invest in the growing
alternative lending sector with the potential for attractive yields
and minimal operational risk while earning a reliable total return.
For more information, see Cliffside's filings on SEDAR at
www.sedar.com.
Cautionary Statement Regarding Forward-Looking
Information
This news release includes certain "forward-looking statements"
under applicable Canadian securities legislation. Forward-looking
statements include, but are not limited to, statements with respect
to the business and operations of Cliffside. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors which may cause
the actual results and future events to differ materially from
those expressed or implied by such forward-looking statements. Such
factors include, but are not limited to: general business,
economic, competitive, political and social uncertainties; the
results of operations; potential for conflicts of interests; the
approval of the Warrant Extension by the TSX Venture Exchange; as
well as volatility of Cliffside's common share price and volume.
There can be no assurance that such statements will prove to be
accurate or complete, as actual results and future events could
differ materially from those anticipated in such
statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Cliffside 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 required by law.
Neither the 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 release.
SOURCE Cliffside Capital Ltd.
