Corporate Catalyst Acquisition Inc.

March 31, 2015 09:47 ET

Corporate Catalyst Announces Termination of Previously Announced Agreement with Inspiring Experiences Ltd. and Extension of Time to Complete Qualifying Transaction

TORONTO, ONTARIO--(Marketwired - March 31, 2015) - Corporate Catalyst Acquisition Inc. ("CCA" or the "Company") (TSX VENTURE:CII.P), a capital pool company, announces that the letter agreement previously entered into with Inspiring Experiences Ltd. has been terminated. For further details of such agreement please see CCA's press release of January 5, 2015.

On January 5, 2015, the TSX Venture Exchange (the "Exchange") suspended trading of the common shares of CCA as a result of CCA's failure to complete a Qualifying Transaction within 24 months of listing. CCA had a further 90-day period (i.e. on or prior to March 30, 2015) within which to complete its Qualifying Transaction or transfer its listing to the NEX Exchange. However, the Exchange has granted the Company's application to extend the period by which the Company has to complete its Qualifying Transaction. As a result, the Company has until September 30, 2015 to complete its Qualifying Transaction without a transfer of its listing to the NEX Exchange.

The Company will continue to actively seek out opportunities to complete its Qualifying Transaction in the best interest of all shareholders.

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 press release.

Forward-Looking Statements

This news release contains forward-looking statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements, other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from CCA's expectations include risks detailed from time to time in the filings made by CCA with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of CCA. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and CCA will only update or revise publicly the included forward-looking statements as expressly required by Canadian securities law.

Contact Information

  • Corporate Catalyst Acquisition Inc.
    Paul Kelly
    Chief Executive Officer and Chief Financial Officer