Turquoise Capital Corp. Announces Extension to Qualifying Transaction Deadline
Vancouver, British Columbia--(Newsfile Corp. - September 28, 2015) - TURQUOISE CAPITAL CORP. (TSXV: TQC.P) ("Turquoise"), a capital pool company, announces that the TSX Venture Exchange (the "Exchange") has conditionally accepted Turquoise's application to extend the period by which it has to complete a Qualifying Transaction. As a result, Turquoise has until March 28, 2016 to complete a Qualifying Transaction or it will be transferred to the NEX.
As set out in a news release dated August 31, 2015, the Exchange has conditionally accepted Turquoise's proposed qualifying transaction (the "Transaction") with Vigil Technologies Inc. ("Vigil"). A filing statement prepared in accordance with the requirements of the Exchange in connection with the Transaction has been filed with the Exchange and the applicable Canadian securities regulators on SEDAR and is available at www.sedar.com.
About Vigil Technologies Inc.
Vigil was incorporated on June 4, 2010 under the laws of the province of British Columbia. Vigil is a research and development company specializing in the development of wireless sensor networks for security and life safety applications.
Turquoise was incorporated November 14, 2012 under the Business Corporations Act (British Columbia). Turquoise is a CPC as defined by the CPC Policy. On June 28, 2013, Turquoise completed its initial public offering and its common shares were listed for trading on the Exchange on July 3, 2013. As disclosed in its final prospectus dated April 15, 2013, Turquoise's business has been restricted to the identification and evaluation of businesses or assets for the purpose of completing its Qualifying Transaction.
For further information please contact:
Turquoise Capital Corp.
John Da Costa, CFO
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Turquoise cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Turquoise's control. Such factors include, among other things: risks and uncertainties relating to Turquoise's ability to complete the proposed Transaction; and other risks and uncertainties, including those described in Turquoise's Filing Statement dated August 25, 2015 filed with the Canadian Securities Administrators and available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Turquoise undertakes no obligation to publicly update or revise forward-looking information.
Completion of the Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.
A halt in trading shall remain in place until after the Transaction is completed or such time that acceptable documentation is filed with the TSX Venture Exchange.
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.