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CALGARY,
AB, June 16, 2022 /CNW/ - Hoist Capital
Corp. (TSXV: HTE.P) ("Hoist") is pleased to announce that
at a special shareholders meeting held earlier today, shareholders
approved the consolidation of the common shares on a 4:1 basis and
a name change in connection with the previously announced
Qualifying Transaction with The Hempshire Group, Inc. In addition,
shareholders also approved the election of the nominee directors,
the adoption of a stock option plan and the appointment of
auditors.
Additional information in connection with the Qualifying
Transaction in the form of a Filing Statement prescribed by the TSX
Venture Exchange (the "Exchange") will be filed in due course on
SEDAR under Hoist's profile. Once all customary commercial closing
conditions for the Qualifying Transaction have been satisfied and
final approvals of the Exchange have been obtained, the common
shares will start trading on a post consolidation basis under the
new stock symbol "HMPG".
Completion of the Qualifying Transaction is subject to a
number of conditions, including but not limited to, final approval
of the TSX Venture Exchange and approval of the shareholders of
Hoist and Hempshire. There can be no assurance that the Qualifying
Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the
management information circular or filing statement to be prepared
in connection with the Qualifying Transaction, any information
released or received with respect to the Qualifying Transaction may
not be accurate or complete and should not be relied upon. Trading
in the securities of a capital pool company should be considered
highly speculative.
This press release is not an offer of the securities for sale
in the United States. The
securities have not been registered under the U.S. Securities Act
of 1933, as amended, and may not be offered or sold in the United States absent registration or an
exemption from registration. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the securities in any state in which
such offer, solicitation or sale would be unlawful.
The TSX Venture Exchange has in no way passed upon the
merits of the proposed Qualifying Transaction and has neither
approved nor disapproved the contents of this news release. The TSX
Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release.
SOURCE Hoist Capital Corp.