Boost Capital Corp.
TSX VENTURE : BST.P

April 24, 2014 08:56 ET

Boost Capital Announces Termination of Proposed Qualifying Transaction With Hollywood Foods

TORONTO, ONTARIO--(Marketwired - April 24, 2014) - Boost Capital Corp. ("Boost") (TSX VENTURE:BST.P), a capital pool company as defined under Policy 2.4 of the TSX Venture Exchange (the "Exchange"), announces the termination of the non- binding term sheet (the "Term Sheet") dated February 6, 2014 between Boost and Hollywood Foods Inc. ("Hollywood Foods") for the arm's length acquisition of substantially all of the assets of Hollywood Foods, which was expected to qualify as Boost's "Qualifying Transaction" as defined by Exchange Policy 2.4.

In addition to the cease trade orders issued by the British Columbia and Ontario securities commissions, previously announced, the securities of Boost are also now subject to a cease trade order issued by the Alberta Securities Commission for failure to file financial statements for the year ended March 31, 2013, and the interim periods ending June 30,2013, September 30, 2013 and December 31, 2013, and related management's discussion and analysis and CEO and CFO certifications. Boost has filed applications for revocation with all three securities commissions. Subject to a bulletin previously issued by the Exchange, upon revocation of the cease trade orders, the shares of Boost will remain suspended by the Exchange until the Exchange is satisfied that Boost meets Exchange requirements.

Boost has called an annual and special shareholders' meeting for June 2, 2014 which will include seeking the necessary shareholder approvals for the purposes of avoiding delisting and transferring its shares to the NEX board of the Exchange.

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Boost believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, Boost disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

Neither 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.

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