Timeless Capital Corp. Announces Expiry of Letter of Intent

May 14, 2019 11:44 AM EDT | Source: Timeless Capital Corp.

Calgary, Alberta--(Newsfile Corp. - May 14, 2019) - Timeless Capital Corp. (TSXV: TLC.P) ("Timeless" or the "Company"), a capital pool company as defined under TSX Venture Exchange ("TSXV" or the "Exchange") Policy 2.4 - Capital Pool Companies, announces that the previously announced letter of intent dated November 5, 2018, as amended January 29, 2019, between Timeless and OpTown Properties Ltd. ("OpTown"), a private company incorporated under the Business Corporations Act (Alberta), has expired. As a result, the Company's proposed qualifying transaction with OpTown will not be proceeding.

Timeless will continue to pursue and evaluate other businesses and assets with a view to completing a qualifying transaction. Timeless cannot offer any assurances that a qualifying transaction will be completed.

For further information:

Fadim Gadallah, CEO
Phone.: 604.248.2080
Email: fgadallah@gadallahmanagement.com

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44781

info