Cinaport Acquisition Corp. III Announces Reinstatement of Trading on TSX Venture Exchange

Toronto, Ontario--(Newsfile Corp. - December 16, 2021) - Cinaport Acquisition Corp. III (TSXV: CAC.P) (the "Company"), a capital pool company listed on the TSX Venture Exchange (the "Exchange"), announces that the Exchange has approved its application for reinstatement of trading of the Company's common shares.

Trading of the Company's common shares was suspended by the Exchange on December 1, 2020 as a result of the Company not completing a Qualifying Transaction (as such term is defined in Policy 2.4 of the Exchange) within 24 months of the date of listing. On January 1, 2021, the Exchange amended Policy 2.4 which, among other things, permits the Company to remove the consequences of not completing a Qualifying Transaction within 24 months of listing by obtaining disinterested shareholder approval prior to June 30, 2021. On February 12, 2021, the Company entered into a letter of intent (the "Letter of Intent") with Coinberry Limited ("Coinberry") with respect to a proposed Qualifying Transaction between the Company and Coinberry, and the trading of the Company's common shares remained suspended pending the Company obtaining the requisite shareholder approval for removing the consequences of not completing a Qualifying Transaction within 24 months of listing and satisfaction of the Exchange's conditions with respect to the Qualifying Transaction required to remove the trading suspension. On June 24, 2021, the Company held an annual general and special meeting of shareholders and received, among other things, the requisite shareholder approval to remove the aforesaid consequences of not completing a Qualifying Transaction within 24 months of listing. On December 12, 2021, the Letter of Intent in respect of the proposed Qualifying Transaction was terminated by Coinberry. On December 13, 2021, the Company applied to the Exchange for reinstatement of trading of the Company's common shares and received approval from the Exchange on December 15, 2021.

Trading of the Company's common shares on the Exchange is expected to resume on Monday, December 20, 2021.

For more information, please contact:

Avi Grewal
President & Chief Executive Officer
Phone: (416) 213-8118 Ext. 210
E-mail: agrewal@cinaport.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. 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. There can be no assurance that such statements will prove to be accurate, 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. The Company 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 Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.

Not for dissemination in the United States or through US Newswire Services.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107832

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