TORONTO, April 19, 2021 /CNW/ - Consolidated HCI
Holdings Corporation (NEX: CXA.H) ("Consolidated HCI" or the
"Company") is pleased to announce it has entered into a
letter of intent with Vaxxinator Enterprises Inc.
("Vaxxinator"), dated as of April 18,
2021 (the "LOI") outlining the proposed terms and
conditions pursuant to which Consolidated HCI and Vaxxinator will
effect a business combination that will result in a reverse
takeover of Consolidated HCI by the shareholders of Vaxxinator (the
"Proposed Transaction"). The entity resulting from the
Proposed Transaction (the "Resulting Issuer") will continue
to carry on the business of Vaxxinator as a clean technology
company. The LOI was negotiated at arm's length.
In connection with the Proposed Transaction, the Company intends
to change its name to "Vaxxinator Enterprises Inc." or such other
name requested by Vaxxinator and acceptable to applicable
regulatory authorities.
The Proposed Transaction will be structured as an amalgamation,
arrangement, takeover bid, share purchase or other similar form of
transaction mutually acceptable to Consolidated HCI and Vaxxinator.
The Proposed Transaction will not be completed while Consolidated
HCI is listed on the NEX board of the TSX Venture Exchange
("TSXV"). The Company intends to issue a subsequent press
release with comprehensive details relating to the Proposed
Transaction.
About Consolidated HCI Holdings Corporation
Consolidated HCI is an Ontario-based company that trades on the NEX
board under the symbol "CXA.H".
Advisory on Forward-Looking Information
This press release may contain certain forward-looking
information and statements ("forward-looking information") within
the meaning of applicable Canadian securities legislation, that are
not based on historical fact, including without limitation
statements containing the words "believes", "anticipates", "plans",
"intends", "will", "should", "expects", "continue", "estimate",
"forecasts" and other similar expressions. Readers are
cautioned to not place undue reliance on forward-looking
information. Actual results and developments may differ
materially from those contemplated by these statements depending
on, among other things, the risks that the parties may not proceed
with the LOI and the Proposed Transaction; that the ultimate terms
of the LOI and the Proposed Transaction will differ from those that
are currently contemplated, and that the LOI and the Proposed
Transaction will not be successfully completed for any reason. The
terms and conditions of the Proposed Transaction may change based
on the Company's due diligence. The Company undertakes no
obligation to comment on analyses, expectations or statements made
by third-parties in respect of the Company, its securities, or
financial or operating results (as applicable). Although the
Company believes that the expectations reflected in forward-looking
information in this press release are reasonable, such
forward-looking information has been based on expectations, factors
and assumptions concerning future events which may prove to be
inaccurate and are subject to numerous risks and uncertainties,
certain of which are beyond the Company's control. The
forward-looking information contained in this press release are
expressly qualified by this cautionary statement and are made as of
the date hereof. The Company disclaims any intention and has no
obligation or responsibility, except as required by law, to update
or revise any forward-looking information, whether as a result of
new information, future events or otherwise.
SOURCE Consolidated HCI Holdings Corporation