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TORONTO, March 29,
2022 /CNW/ - Cliffside Capital Ltd.
("Cliffside" or the "Company") (TSXV: CEP) has been
informed by the TSX Venture Exchange (the "Exchange") that
the Company's request for an extension to the exercise period of a
total of 2,197,000 common share purchase warrants (the
"Warrants") of the Company from their current expiry
date of March 26, 2022 to
June 14, 2022 (the "Warrant
Extension") has not been accepted by the Exchange. The Warrants
were issued to certain standby guarantors of the Company in
connection with the Company's rights offering that closed on
March 27, 2019. As a result, the
Warrants have now expired in accordance with their original
terms.
The Company initially submitted its request to the Exchange for
the Warrant Extension on March 22,
2022. The application was made in order to maintain the
Warrants as a potential source of financing for the Company by
allowing certain insiders of the Company holding Warrants with an
additional opportunity to exercise the Warrants following the
termination of the Company's current "blackout" period. Insiders
are prohibited from trading in securities of the Company during a
"blackout" period pursuant to the terms of the Company's insider
trading policy.
About Cliffside
Cliffside is focused on investing in strategic partnerships with
parties who have specialized expertise and a proven track record in
originating and servicing loans and similar types of financial
assets. Cliffside's strategy is to generate revenue as an investor,
affording its shareholders an opportunity to invest in the growing
alternative lending sector with the potential for attractive yields
and minimal operational risk while earning a reliable total return.
For more information, see Cliffside's filings on SEDAR at
www.sedar.com.
Cautionary Statement Regarding Forward-Looking
Information
This news release includes certain "forward-looking statements"
under applicable Canadian securities legislation. Forward-looking
statements include, but are not limited to, statements with respect
to the business and operations of Cliffside. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors which may cause
the actual results and future events to differ materially from
those expressed or implied by such forward-looking statements. Such
factors include, but are not limited to: general business,
economic, competitive, political and social uncertainties; the
results of operations; potential for conflicts of interests; as
well as volatility of Cliffside's common share price and volume.
There can be no assurance that such statements will prove to be
accurate or complete, as actual results and future events could
differ materially from those anticipated in such
statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Cliffside disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
Neither the 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.
SOURCE Cliffside Capital Ltd.