VM HOTEL ACQUISITION CORP. PROVIDES UPDATE ON QUALIFYING ACQUISITION

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES/

TORONTO, Dec. 22, 2023 /CNW/ - VM Hotel Acquisition Corp. (TSX: VMH.U) (TSX: VMH.WT.U) ("VMH" or the "Company"), a special purpose acquisition company ("SPAC"), today announced that the Company and The Pyure Company Inc. ("Pyure") have decided not to proceed with the Company's proposed acquisition of Pyure. The proposed transaction with Pyure was originally announced by the Company on September 22, 2022 and was to constitute its qualifying acquisition.

The Company is currently working with stakeholders to determine how to best proceed in light of the upcoming expiry of its permitted timeline to consummate a qualifying acquisition. The permitted timeline is set to expiry on February 29, 2023. The Company will provide an additional update when appropriate to do so.

About VM Hotel Acquisition Corp.

VMH is a SPAC incorporated under the laws of the Province of British Columbia for the purpose of effecting a qualifying acquisition within a specified period of time. VMH's head office is located at Brookfield Place, 161 Bay Street, Suite 2420, Toronto, ON, M5J 2S1 and its registered office is located at 1600 - 925 West Georgia Street Vancouver, BC V6C 3L2.

Forward-Looking Statements

This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects VMH's current expectations regarding future events. The words "will", "expects", "intends" and similar expressions are often intended to identify forward-looking information, although not all forward-looking information contains these identifying words. Specific forward-looking information contained in this press release includes statements with respect to the Company's qualifying acquisition. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond VMH's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, that there can be no assurance that the Company will complete a qualifying acquisition. VMH undertake no obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

 

SOURCE VM Hotel Acquisition Corp

Copyright 2023 Canada NewsWire