VANCOUVER, BC, Jan. 29, 2021 /CNW/ - EXELERATE CAPITAL
CORP. (TSXV: XCAP) (the "Company") is
pleased to announce that all matters submitted to shareholders for
approval as set out in detail in the Company's management
information circular ("Circular") dated December 21, 2020 were approved at the annual
general and special meeting of the shareholders of the Company held
on January 28, 2021 (the
"Meeting"). At the Meeting, RSM Canada LLP was re-appointed
as the auditor of the Company and the incumbent members of the
board of directors, being Mark William
Kohler, Barry Cameron
Richards, Sheldon Pollack,
and Michael Boyd, were elected.
In addition to the above, disinterested shareholders of the
Company voted in favour of the following resolutions proposed in
the Circular, thereby implementing the certain changes needed to
transition to the TSX Venture Exchange's Policy 2.4 – Capital
Pool Companies effective as at January
1, 2021 ("Policy 2.4"):
- ratifying certain amendments to the Company's stock option
plan;
- removing the consequences associated with the Company not
completing a Qualifying Transaction within 24 months of its listing
date; and
- authorizing the Company to make certain amendments to the
Company's escrow agreement.
Please refer to the Company's news release dated December 21, 2021 and the Circular for further
details with respect to the amendments associated with the new
Policy 2.4.
About the Company
The Company is a capital pool company pursuant to Policy 2.4.
Except as specifically contemplated in such policy, until the
completion of its Qualifying Transaction (as defined in Policy
2.4), the Company will not carry on business, other than the
identification and evaluation of companies, businesses or assets
with a view to completing a proposed Qualifying Transaction.
Investors are cautioned that trading in the securities of a capital
pool company is considered highly speculative.
The TSX Venture Exchange has neither approved nor disapproved
the contents of this news release. Neither 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 Exelerate Capital Corp.