Navion Announces Second LOI Extension with Daizee Diapers and Provides Shareholder Update
NAVION CAPITAL INC.
NAVION ANNOUNCES SECOND LOI EXTENSION WITH DAIZEE DIAPERS AND
PROVIDES SHAREHOLDER UPDATE
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES
Calgary, Alberta, April 15, 2021 – Further to the press release dated April 23, 2020 and January 12,
2021, Navion Capital Inc. (TSXV: NAVN.P) (the "Corporation") is pleased to announce that it has
entered into a second extension agreement (" Second LOI Extension Agreement ") in respect of the
previously announced non -binding letter of intent (" LOI") with Daizee Diapers Corp. ("Daizee")
dated January 11, 202 1 (the "Proposed Transacton "). The Second LOI Extension Agreement,
extends the exclusivity period between the Corporation and Daziee in the LOI to July 2, 2021, or such
earlier or later time as the Corporation and Daizee mutually agree, in order to provide more time for
the parties to complete due diligence and enter into a definitive agreement.
Trading in Navion shares has been halted, and the halt is expected to remain in place until completion
of the Proposed Transaction or further notice is provided.
Daizee is currently carrying out private placement financings to raise gross proceeds of approximately
$3,000,000 as part of the Proposed Transaction.
Since the Corporation was granted listing on the TSX Venture Exchange as a capital pool company
on May 23, 2018, the Corporation has actively pursued a number of possible qualifyin g transactions.
Currently the Corporation has identified and is working with Daizee on the Proposed Transaction.
The Corporation is completing due diligence on Daizee and assisting with its proposed private
placements, however, t here can be no assurance that the Corporation will complete the Proposed
Transaction with Daizee, as contemplated, or at all.
The Corporation would like to take this opportunity to thank its shareholders for the patience and
continue support as it works towards securin g a qualifying transaction that will enhance and create
value for the shareholders of the Corporation .
About Daizee Diapers Corp.
Daizee Diapers Corp. is the maker of the patented Hybrid Diaper product line that is produced in
Canada with compostable pla nt-based components that provide an excellent softness and
environmental profile that helps reduce garbage levels. Daizee is building a baby brand on a platform
of impact. Daizee intends to work with a network of retailer partners and their online and ins tore sales
channels to grow unit sales in North America and the UK while helping to reduce carbon emissions.
To learn more, please visit www.daizeediapers.ca.
For further information, please contact
Navion Capital Inc.
Livio Susin, President, Chief Executive Officer and Director
Tel: (604) 789-2410
Email: [email protected]
All information contained in this news release with respect to the Corporation and Daizee was supplied by
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the parties, respectively, for inclusion herein, and each party and its directors and officers have relied on the
other party for any information concerning the other party.
The TSX Venture Exchange Inc. (the "TSXV") has in no way passed upon the merits of the Proposed
Transaction and has neither approved nor disapproved the contents of this press release.
Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to,
TSXV acceptance and, if applicable, pursuant to the requirements of the TSXV, majority of the
minority shareholder approval. Where applicable, the Proposed Transaction cannot close until the
required shareholder and regulatory approval is obtained. There can be no assurance that the Proposed
Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing
statement to be prepared in connection with the Proposed Transaction, any information released or
received with respect to the Proposed Transaction may not be accurate or complete and should not be
relied upon. Trading in the securities of the Corporation should be considered highly speculative.
This press release is not an offer of securities for sale in the United States. The securities described in this
press release have not been registered under the U.S. Securities Act of 1933, as amended, and may not be
offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in
Regulation S under the U.S. Securities Act of 1933, as amended) absent registration or an exemption from
registration. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall
there be any sale of the securities in any jurisdiction where such offer, solicitation, or sale would be unlawful.
NEITHER THE 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.
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain statements and information that may constitute forward -looking
information within the meaning of appl icable Canadian securities laws . All statements in this news
release, other than statements of historical facts, including statements regarding future estimates, plans,
objectives, timing, assumptions or expectations of future performance, including the terms and conditions
of the Propo sed Transaction and future developments and the business and operations of the "Resulting
Issuer" after the Proposed Transaction are forward -looking statements and contain forward -looking
information. Generally, forward -looking statements and information c an be identified by the use of
forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases
or statements that certain actions, events or results "may", "could", "should", "would" or "occur".
Forward-looking state ments are based on certain material assumptions and analysis made by the
Corporation and the opinions and estimates of management as of the date of this press release, including
that the terms and conditions of the Proposed Transaction will be as anticipat ed by management and
future developments and the business and operations of the "Resulting Issuer" after the Proposed
Transaction will be as anticipated by management . These forward -looking statements are subject to
known and unknown risks, uncertainties a nd other factors that may cause the actual results, level of
activity, performance or achievements of the Corporation to be materially different from those expressed
or implied by such forward -looking statements or forward -looking information. Important fa ctors that
may cause actual results to vary, include, without limitation, that the terms and conditions of the
Proposed Transaction will not be as anticipated by management or will not close at all ; the terms and
conditions of the P roposed Financing will not be as anticipated by management or will not close at all ;
and future developments and the business and operations of the "Resulting Issuer" after the Proposed
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Transaction will not be as anticipated by management . Although management of the Corporation has
attempted to identify important factors that could cause actual results to differ materially from those
contained in forward-looking statements or forward-looking information, there may be other factors that
cause results not to be as anticipated, estim ated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue reliance on forwa rd-looking
statements and forward -looking information. Readers are cautioned that reliance on such information
may not be appropriate for other purposes. The Corporation does not undertake to update any forward -
looking statement, forward-looking information or financial out -look that are incorporated by reference
herein, except in accordance with applicable securities laws.