HAW Capital 2 Corp. Reports Results of Its Annual and Special Shareholder Meeting

July 05, 2021 9:00 AM EDT | Source: HAW Capital 2 Corp.

Calgary, Alberta--(Newsfile Corp. - July 5, 2021) - HAW Capital 2 Corp. (TSXV: HAW.P) (the "Company"), a capital pool company ("CPC") pursuant to Policy 2.4 - Capital Pool Companies ("Policy 2.4") of the TSX Venture Exchange (the "Exchange"), is pleased to announce that all matters submitted to shareholders for approval, as set out in detail in the Company's management information circular dated May 21, 2021 (the "Circular"), were approved at the annual and special meeting of shareholders of the Company held on June 24, 2021; including the appointment of the Company's auditors and election of its directors.

In addition to the above and in accordance with CPC Policy, disinterested shareholders of the Company voted in favor of the following resolutions:

  1. Amend the stock option plan, pursuant to which the total number of common shares in the capital of the Company ("Common Shares") reserved for issuance will no longer be limited to 10% of the outstanding Common Shares as at the date of closing of the Company's initial public offering; and instead will be limited to 10% of the issued and outstanding Common Shares of the Company as at the date of grant;
  2. Make amendments to the Qualifying Transaction timeline to remove the consequences associated with the Company not completing a Qualifying Transaction within 24 months of the listing date of the Common Shares on the Exchange;
  3. Amend the Company's Escrow Agreement to align it with the Updated Policy; specifically, to reduce the escrow timed release table from 36 months to 18 months; and
  4. Permit the payment of a finder's fee to a non-arm's length party to the Company upon completion of its Qualifying Transaction, in accordance with the terms of the Updated Policy.

Approval of the disinterested shareholder resolutions was sought in order for the Company to align certain of its policies to changes pursuant to the recent amendments by the Exchange to its Capital Pool Company program and Policy 2.4, which became effective January 1, 2021 (the "Updated Policy").

For further information, please contact:

Marshall Mewha
Chief Financial Officer
Phone: 250-218-6701

Neither the TSX Venture 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.

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