Green Panda Capital Receives Approval to Transition to New CPC Policy

Toronto, Ontario--(Newsfile Corp. - July 2, 2021) - Green Panda Capital Corp. (TSXV: GPCC.P) ("Green Panda" or the "Corporation"), a capital pool company as defined under Policy 2.4 - Capital Pool Companies ("CPC") of the TSX Venture Exchange (the "Exchange"), is pleased to announce that all matters submitted for approval as set out in detail in the Corporation's management information circular (the "Circular") dated May 25, 2021, were approved at the annual general and special meeting of shareholders (the "Meeting") held on June 30, 2021. In particular, the following matters received shareholder approval:

  1. The appointment of the Corporations auditors; and
  2. The election of the Corporation's directors.

In addition to the above, 99% of the disinterested shareholders of the Corporation who voted at the Meeting voted in favor of the following matters:

  1. Re-approval of the Corporation's stock option plan;
  2. Removal of the potential consequences associated with the Corporation failing to complete a qualifying transaction within 24 months after its listing date in accordance with the changes to the TSX Venture Exchange Policy 2.4 (the "CPC Policy"); and
  3. Approving amendments to the Corporation's escrow agreements in accordance with the recent changes to the CPC Policy, including allowing the Corporation's escrowed securities to be subject to an 18-month escrow release schedule.

Please refer to the Corporation's Circular for further details with respect to the amendments in accordance with the CPC Policy.

About the Corporation

The Corporation is designated as a Capital Pool Corporation by the TSXV. The Corporation has not commenced commercial operations and has no assets other than cash. The only business of the Corporation is the identification and evaluation of assets or businesses with a view to completing a "Qualifying Transaction" in accordance with TSXV Policy 2.4 - Capital Pool Companies.


Xin (Richard) Zhou
President and Chief Executive Officer

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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