Rainy Hollow Ventures Inc. Announces Shareholder Approval of Its Transition to the New CPC Policy
Vancouver, British Columbia--(Newsfile Corp. - April 12, 2021) - Rainy Hollow Ventures Inc. (TSXV: RHV.P) ("Rainy Hollow" or the "Company"), a capital pool company listed on the TSX Venture Exchange ("TSXV"), is pleased to announce that on March 31, 2021, disinterested shareholders of the Company approved, by way of written shareholder consent, the implementation of the certain changes needed to transition to the TSXV's Policy 2.4 - Capital Pool Companies ("Policy 2.4"), which became effective as at January 1, 2021 (the "New CPC Policy"). The certain changes approved by disinterested shareholders, are as follows:
- to remove the consequences of failing to complete a "Qualifying Transaction" (as defined in Policy 2.4) within 24 months of Rainy Hollow's date of listing on the TSXV; and
- to amend the escrow release conditions and certain other provisions of Rainy Hollow's escrow agreement including allowing Rainy Hollow's escrowed securities to be subject to an 18-month escrow release schedule as detailed in the New CPC Policy, rather than the 36-month escrow release schedule under the previous Policy 2.4.
Please refer to the Company's news release dated March 30, 2021 for further details with respect to the changes and to the Company's filing statement filed on SEDAR on April 9, 2021 for further details regarding the escrow release conditions.
For further information, please contact:
Rainy Hollow Ventures Inc.
Michael Atkinson - Chief Executive Officer, Chief Financial Officer, Corporate Secretary, and Director
Phone: (604) 689-1428
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