TORONTO, Sept. 21, 2021 (GLOBE NEWSWIRE) — Mercury Acquisitions Corp. (the “Company” or “Mercury”) (TSXV: MERC.P) is pleased to announce shareholders of the Company approved all of the matters brought before them by the requisite majorities at the special meting of shareholders held on September 20, 2021 (the “Meeting”) as set out in the management information circular dated August 16, 2021. At the Meeting, it was resolved that upon the completion of the proposed qualifying transaction with Franchise Cannabis Corp. (the “Effective Time”): (i) the number of directors of the Company shall be fixed to five (5) members; (ii) Clifford Starke, Larry W. Smith, Peter Simeon, Jakub Malczewski, and Farhan Lalani shall be the directors of the Company; (iii) MNP LLP shall be the auditor of the Company; (iv) the Company’s stock option plan shall become effective; (v) the Company’s share unit plan shall become effective; (vi) the consolidation of the issued and outstanding common shares in the capital of the Company (the “Common Shares”) shall be effected on the basis of a consolidation ratio within a range between five (5) pre-consolidation Common Shares for one (1) post-consolidation Common Share and twenty (20) pre-consolidation Common Shares for one (1) post-consolidation Common Share; and (vii) the name of the Company shall change to “Franchise Global Health Inc”.
Additional information concerning the Meeting is available in the Company’s management information circular dated August 16, 2021, available to the public under the Company’s profile on SEDAR at www.sedar.com.
About the Company
The Company is a capital pool company (“CPC”) within the meaning of the policies of the TSX Venture Exchange (the “Exchange”) that has not commenced commercial operations and has no assets other than cash. The current directors and officers of the Company are: Clifford Starke (CEO, CFO, Corporate Secretary and Director), Peter Simeon (Director) and Hani Zabaneh (Director). Except as specifically contemplated in the CPC policies of the Exchange, until the completion of its qualifying transaction (as defined under Exchange Policy 2.4 – Capital Pool Companies), the Company will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed qualifying transaction.
For further information please contact Hani Zabaneh, Director of the Company at (604) 782-4264.
Not for distribution to United States newswire services or for dissemination in the United States. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state, and may not be offered or sold in the United States unless an exemption from registration is available. This press release does not constitute an offer to sell or the solicitation of any offer to buy these securities in the United States.
Investors are cautioned that trading in the securities of a CPC should be considered highly speculative.
Neither 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.
Notice on Forward-Looking Information
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Mercury cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Mercury’s control. Such factors include, among other things: risks and uncertainties relating to Mercury’s Common Shares on the Exchange, its ability to identify, evaluate and complete a qualifying transaction and other risks and uncertainties, including those described in the Company’s prospectus filed with the Canadian Securities Administrators and available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Mercury undertakes no obligation to publicly update or revise forward-looking information.