TORONTO, July 09, 2018 (GLOBE NEWSWIRE) -- Gravitas Financial Inc. (“GFI”) (CSE:GFI) is pleased to announce that Gravitas Ilium Corporation (“GIC”) has entered into a letter of intent dated July 6, 2018 with Victory Capital Corp. (“Victory”) (TSXV:VIC.P) to complete a going public transaction for GIC (the “Proposed Transaction”). GIC is 46.1% owned by Gravitas Financial Inc.
Victory is a capital pool company governed by the policies of the TSXV. The principal business of Victory is the identification and evaluation of assets or businesses with a view to completing a Qualifying Transaction. Victory intends that the Proposed Transaction will constitute its “Qualifying Transaction” under Policy 2.4 - Capital Pool Companies of the TSX Venture Exchange (the “TSXV”).
For more information about the Proposed Transaction and the conditions to completion of the Proposed Transaction, see the news release of Victory and GIC issued today and filed under the Victory profile in SEDAR.
About Gravitas Ilium Corporation
GIC provides a regulated and licensed financial services platform developed to serve the wealth management and investment banking needs of entrepreneurs with a focus on those in the Chinese Canadian community.
About Gravitas Financial Inc.
GFI is an investment holding and merchant banking firm with a focus on financial services, financial technology and mining verticals. It has an active presence in North America, as well as in the fast-growing international regions including China, India and the Middle East. GFI seeks to make strategic investments in high quality and well-managed wealth management, financial technology and mining companies and aims to generate significant shareholders’ value through the growth in its investments.
Notice on forward-looking statements:
This release includes forward-looking information including statements with respect to the completion of the Proposed Transaction. Such statements are based on the current expectations and views of future events of the management of each entity, and are based on assumptions and subject to risks and uncertainties. Although management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release, including completion of the Proposed Transaction, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties including the failure to satisfy any of the conditions for completion of the Proposed Transaction set out in the news release of Victory and GIC referred to above.
There may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and GFI does not undertake any obligation to publicly update or revise any forward-looking statement, except as required by applicable securities laws.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Vikas Ranjan, President
Email: vikas@gravitasfinancial.com
Tel: (647) 352-2666
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.