VANCOUVER, BC – TheNewswire – July 19, 2022 – Hopefield Ventures Inc. (TSXV:HVI.P) (“Hopefield”) announces that it has entered into a loan agreement (the “Loan Agreement”) with Madali Ventures Inc. (“Madali”). Pursuant to the Loan Agreement, Hopefield has agreed to advance, subject to approval from the TSX Venture Exchange (the “Exchange”), to Madali a secured loan in the amount of $100,000 (the “Loan Amount”). The Loan Amount will be used by Madali for general working capital and operating purposes.
As previously disclosed in its news release dated February 1, 2022, Hopefield has entered into a share exchange agreement (the “Share Exchange Agreement”) with Madali and the shareholders of Madali (the “Madali Shareholders”). Pursuant to the Share Exchange Agreement, Hopefield will acquire all of the issued and outstanding shares of Madali from the Madali Shareholders in exchange for common shares of Hopefield (the “Transaction”). Hopefield intends that the Transaction will constitute its Qualifying Transaction (as such term is defined in Policy 2.4 of the Exchange). Hopefield and Madali continue to work with the Exchange to obtain approval of the Transaction.
In the event that the Share Exchange Agreement is terminated, the Loan Amount will be due and repayable by Madali within thirty days of such termination.
About Hopefield
Hopefield is a “capital pool company” within the meaning of the policies of the Exchange that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the Exchange’s CPC policy, until the completion of its Qualifying Transaction (as defined under the policies of the Exchange), Hopefield will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed Qualifying Transaction.
For further information, please contact:
Mark Binns, Chief Executive Officer
Telephone: (604) 681-0084
Email: [email protected]
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.
This news release may contain certain “Forward-Looking Statements” as defined under applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to: the timing of the Transaction and completion thereof; approvals required from the Exchange; advancement of the Loan Amount; and repayment of the Loan Amount.
Forward-looking information is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management’s perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While management of Hopefield considers these assumptions to be reasonable based on information currently available, there is no assurance that such expectations will prove to be correct. By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information include: the ability to consummate the Transaction; the ability to obtain requisite regulatory and security holder approvals and to satisfy other conditions to the consummation of the Transaction on the terms and at the times proposed; the impact of the announcement or consummation of the Transaction on relationships; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; changes in government regulation and regulatory compliance; and the diversion of management time on the Transaction. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information.
The forward-looking information contained in this news release is stated as of the date of this news release. Hopefield does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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