Triumph Ventures II Corporation
TSX VENTURE : TVT.P

July 11, 2014 18:49 ET

Triumph Ventures II Corporation Announces Intention to Transfer to NEX

TORONTO, ONTARIO--(Marketwired - July 11, 2014) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

Triumph Ventures II Corporation (TSX VENTURE:TVT.P) (the "Company"), a capital pool company as defined under Policy 2.4 - Capital Pool Companies of the TSX Venture Exchange (the "TSXV"), announces that it will not be proceeding with the transaction with Claxton Real Estate Company Ltd. ("Claxton"), announced in its press release of November 26, 2013. The transaction was to constitute the Company's Qualifying Transaction pursuant to the policies of the TSX Venture Exchange ("TSXV").

The deadline for the Company to complete its Qualifying Transaction was March 17, 2014. The Company received an extension of this date to June 17, 2014. After the Company did not complete its Qualifying Transaction by June 17, 2014, the TSXV gave the Company until July 9, 2014 to seek necessary shareholder consents to cancel a portion of its Seed Shares (as defined by the TSXV) and transfer to NEX. The July 9, 2014 deadline was subsequently extended to July 30, 2014 upon the request of the Company. As detailed in a news release of the Company dated July 11, 2014, the Company is proceeding to seek shareholder approval to cancel a portion of its Seed Shares and transfer to NEX.

Transfer of the shares of the Company to the NEX board remains conditional upon receipt of the necessary shareholder approval and final approval of the TSXV.

The Company has concurrently with the dissemination of this news release filed on SEDAR (www.sedar.com) the form of shareholder consent that the Company will be mailing to shareholders for the purposes of obtaining consent to the transfer to NEX and the cancellation of the Seed Shares.

About Triumph Ventures II Corporation:

Triumph Ventures II Corporation, a Capital Pool Corporation ("CPC") within the meaning of the policies of the TSXV, was incorporated under the Business Corporations Act (Ontario) on January 19, 2011. The Company completed its initial public offering on February 29, 2012, and began trading on the Exchange on March 15, 2012. The Company does not have any operations and has no assets other than cash. The Company's business is to identify and evaluate businesses and acquisitions with a view to completing a qualifying transaction under the policies of the Exchange.

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.

Contact Information

  • Triumph Ventures II Corporation
    Peter D. Wanner
    President, CEO, CFO and Director
    (416) 918-6987