TORONTO, Sept. 28,
2023 /CNW/ - VM Hotel Acquisition Corp. (TSX:
VMH.U) (TSX: VMH.WT.U) (the "Corporation" or "VMH"), announced
today that the resolution put to the holders
("Shareholders") of the Corporation's class A restricted
voting shares (the "Class A Restricted Voting Shares") at
the special meeting of Shareholders held virtually on September 28, 2023 (the "Meeting"), was
approved.
The Corporation announced that the resolution to extend the date
by which the Corporation has to consummate a qualifying acquisition
from September 30, 2023 to
February 29, 2024 (the
"Extension"), was approved by the affirmative vote of
98.594% of the votes represented at the Meeting. Following the
receipt of approval of the Shareholders, the board of directors
approved the Extension, effective as of September 28, 2023.
In connection with the Meeting, VMH provided Shareholders with
the opportunity to deposit their Class A Restricted Voting Shares
for redemption (the "Redemption"). After calculating the Part Vl.1
taxes under the Income Tax Act (Canada) payable in connection with the
Redemption, VMH expects that the amount that each Class A
Restricted Voting Share that was deposited for redemption in
connection with the Extension will be redeemed for is approximately
US$10.21. 3,000 Class A Restricted
Voting Shares were deposited for redemption in connection with the
Extension. A copy of the complete report on voting at the Meeting
will be made available under the Corporation's profile on SEDAR+ at
www.sedarplus.ca.
VMH is a special purpose acquisition company incorporated under
the laws of the Province of British
Columbia for the purpose of effecting a qualifying
acquisition within a specified period of time. VMH's head office is
located at Brookfield Place, 161 Bay Street, Suite 2420,
Toronto, ON, M5J 2S1 and the
registered office is located at 1600 - 925 West Georgia Street
Vancouver, BC V6C 3L2.
Forward Looking
Statements
This press release may contain forward–looking information
within the meaning of applicable securities legislation, which
reflects the Corporation's current expectations regarding future
events. Forward–looking information is based on a number of
assumptions and is subject to a number of risks and uncertainties,
many of which are beyond the Corporation's control, that could
cause actual results and events to differ materially from those
that are disclosed in or implied by such forward–looking
information. The Corporation does not undertake any obligation to
update such forward–looking information, whether as a result of new
information, future events or otherwise, except as expressly
required by applicable law.
SOURCE VM Hotel Acquisition Corp