NEW YORK, Oct. 22, 2019 /PRNewswire/ -- Alberton
Acquisition Corporation (the "Company" or "Alberton") (NASDAQ:
"ALAC") today announced that the Company has deposited
into its trust account (the "Trust Account") an aggregate
of $1,148,799.20, representing $0.10 per public
share of the Company, in order to extend the period of time
the Company has to consummate a business combination by three
months to January 24, 2020.
The Management will have the option, but no obligation, to
extend such period an additional one time, by an
additional three months, up to April 24, 2020, by depositing
an aggregate of an additional $1,148,799.20 into the
Trust Account, representing an additional $0.10
per public share, in connection with such additional
extensions.
About ALAC
ALAC is a blank check company, also commonly referred to as a
Special Purpose Acquisition Company, or SPAC, formed for the
purpose of acquiring, engaging in a share exchange, share
reconstruction and amalgamation, purchasing all or substantially
all of the assets of, entering into contractual arrangements, or
engaging in any other similar business combination with one or more
businesses or entities. On September 13,
2019, ALAC entered into a non-binding letter of intent to
consummate a potential business combination with Global Nature
Investment Holdings Limited, a wholly owned subsidiary of CITIC
Capital, an investment advisory firm that manages over US$26 billion of capital through its multi-asset
class platform. For further information about such
transaction, please refer to ALAC's filings with the U.S.
Securities and Exchange Commission ("SEC").
Forward-Looking Statements
This press release includes "forward-looking statements" that
involve risks and uncertainties that could cause actual results to
differ materially from what is expected, including the funding of
the Trust Account to further extend the period for the ALAC to
consummate an initial business combination, if needed. Words such
as "expects", "believes", "anticipates", "intends", "estimates",
"seeks", "may", "might", "plan", "possible", "should" and
variations and similar words and expressions are intended to
identify such forward-looking statements, but the absence of these
words does not mean that a statement is not forward-looking. Such
forward-looking statements relate to future events or future
results, based on currently available information and reflect ALAC
management's current beliefs. A number of factors could cause
actual events or results to differ materially from the events and
results discussed in the forward-looking statements. In addition,
please refer to the Risk Factors section of ALAC's Form 10-K, its
Quarterly Reports on Form 10-Q for additional information
identifying important factors that could cause actual results to
differ materially from those anticipated in the forward looking
statements. Except as expressly required by applicable securities
law, ALAC disclaims any intention or obligation to update or revise
any forward looking statements whether as a result of new
information, future events or otherwise.
Contacts
Alberton Acquisition Corp.
Bin Wang
Tel. +1 (917) 202-8028
Email: ben@albertoncorp.com
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SOURCE Alberton Acquisition Corp.