ECC VENTURES 5 ANNOUNCES TERMINATION OF AGREEMENT TO ACQUIRE SHELFIE-TECH LTD.

VANCOUVER, BC, Feb. 12, 2024 /CNW/ - ECC Ventures 5 Corp. ("ECC5" or the "Company") (TSXV: ECCV.P) announces that the arrangement agreement dated effective May 12, 2022, as subsequently amended on August 30, 2023, pursuant to which the Company, through its subsidiary, 1360621 B.C. Ltd., proposed to acquire 100% of Shelfie-Tech Ltd., has been terminated by the parties in accordance with its terms. The transaction was intended to constitute the Company's Qualifying Transaction (as such term is defined by the TSX Venture Exchange ("TSXV")).

The Company has made application to the TSXV for the reinstatement of trading of it's common shares. Additional news on the reinstatement of trading will be disseminated once confirmed with the TSXV.

The Company will continue to investigate and pursue other strategic opportunities with a view to enhancing shareholder value through the completion of a Qualified Transaction.

On Behalf of the Board of Directors of ECC Ventures 5 Corp.

Doug McFaul
Director

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.

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward‐looking statements". Forward‐looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward‐looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward‐looking statements.

SOURCE ECC Ventures 5 Corp.

Copyright 2024 Canada NewsWire