Mithrandir Capital Corp. Announces Receipt of Conditional Approval for the Qualifying Transaction with PopReach Incorporated
Toronto, Ontario--(Newsfile Corp. - June 18, 2020) - Mithrandir Capital Corp. (TSXV: GMER.P) ("Mithrandir" or the "Corporation") is pleased to announce that further to its press releases dated November 12, 2019 and June 17, 2020, the Corporation has received conditional listing approval from the TSX Venture Exchange (the "Exchange") in connection with its proposed transaction with PopReach Incorporated (the "Qualifying Transaction"), as described in its prior press release dated November 12, 2019 and June 17, 2020. The Corporation currently anticipates entering into the definitive transaction agreement and filing a filing statement prepared in accordance with the policies of the Exchange in the coming week, with the Qualifying Transaction currently expected to close in or around June 30, 2020 or such other date as the parties may agree, subject to customary conditions and requirements for transactions of this nature.
The trading of the Corporation's common shares will remain halted until all of the above have been completed and the Corporation has received the Exchange's final acceptance of the Qualifying Transaction.
PopReach was incorporated on May 26, 2015 under the Business Corporations Act (Ontario). PopReach is a mobile game publisher focused on consolidating, operating and growing proven, profitable games and game franchises. Headquartered in Toronto with a live operations studio in Bangalore, India, PopReach's current portfolio of games are played by approximately 500K daily active users. The company's key game franchises include War of Nations, Kitchen Scramble, Gardens of Time, City Girl Life, and Smurfs' Village.
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Mithrandir Capital Corp.
NEITHER THE 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.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer's business, capital, or operations that is prospective in nature, and includes future-oriented financial information about the issuer's prospective financial performance or financial position.
The forward-looking information in this news release includes disclosure about the terms of the Qualifying Transaction.
Mithrandir and PopReach made certain material assumptions, including but not limited to: prevailing market conditions; general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the ability of the resulting issuer to execute and achieve its business objectives, to develop the forward-looking information in this news release. 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.
Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include, but are not limited to: adverse market conditions; the inability of Mithrandir or PopReach to complete the Qualifying Transaction on the terms disclosed in this news release, or at all; reliance on key and qualified personnel; and regulatory and other risks associated with the digital gaming industry in general. The foregoing list of material risk factors and assumptions is not exhaustive.
Mithrandir assumes no obligation to update or revise the forward-looking information in this news release, unless it is required to do so under Canadian securities legislation.
(Not for distribution to US wire services or for dissemination in the United States of America)
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/58184