TORONTO, April 8, 2019 /CNW/ - Hope Well Capital
Corp. ("Hope Well") (TSX
VENTURE: HOPE.P), a capital pool company, announce further to
its press releases on March 22, 2019
and March 28, 2019, Payfare Inc.
("Payfare") on March 27, 2019
provided notice to Hope Well
terminating the proposed qualifying transaction between Payfare and
Hope Well, claiming Payfare had
provided notice to Hope Well of a
superior merger proposal.
Hope Well disputes Payfare's
claims and has filed a notice of action against Payare for, among
other things, breach of contract, seeking damages including
expenses incurred by Hope Well in
connection with the transaction with Payfare.
Hope Well's shares will resume
trading on the TSX Venture Exchange (the "TSXV") on
Tuesday, April 9, 2019.
Hope Well will seek a new target for
its qualifying transaction in accordance with the rules of the
TSXV.
ABOUT HOPE WELL
Hope Well is a capital pool
company (CPC) formed under the TSXV's CPC program. Hope Well's common shares will resume trading on
the TSXV under the symbol "HOPE.P".
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE
EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS RELEASE.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information"
within the meaning of applicable securities laws relating to the
proposal to complete the Transaction, the financings and associated
transactions, including statements regarding the terms and
conditions of the Transaction, financings and associated
transactions. Any such forward-looking statements may be identified
by words such as "expects", "anticipates", "believes", "projects",
"plans" and similar expressions. Readers are cautioned not to place
undue reliance on forward-looking statements. Actual results and
developments may differ materially from those contemplated by these
statements depending on, among other things, the risks disclosed in
Hope Well's prospectus dated
March 24, 2017. The statements in
this news release are made as of the date of this release.
Hope Well undertakes no obligation
to update any such forward-looking statements if circumstances or
management's estimates or opinions should change except as required
by applicable securities laws. The reader is cautioned not to place
undue reliance on any such forward-looking statements. Hope Well undertakes no obligation to comment on
analyses, expectations or statements made by third parties in
respect of Hope Well, or its
financial or operating results or (as applicable), its
securities.
SOURCE Hope Well Capital Corp.