Pinehurst Capital I Announces Proposed Changes in Accordance with New CPC Policy
Pinehurst Capital I Announces Proposed Changes in Accordance with New CPC Policy
TORONTO, April 6, 2021 — Pinehurst Capital I Inc. (TSXV: PH T.P) (the " Corporation "), a capital pool
company listed on the TSX Venture Exchange (" TSXV "), announces that pursuant to recent changes by the TSXV
to its Capital Pool Company program and the TSXV's Policy 2.4 – Capital Pool Companies (" Policy 2.4 "), which
became effective as at January 1, 2021 (the " New CPC Policy "), the Corporation intends to seek approval to
implement certain amendments to further align with the New CPC Policy.
Pursuant to the New CPC Policy, in order for the Corpor ation to align certain of its policies with the New CPC
Policy, it is required to obtain the approval of disinterested shareholders of the Corporation. At a special meeting
of the shareholders of the Corporation held on February 23, 2021 (the " Meeting "), the requisite approval of
disinterested shareholders of the Corporation was obtained for the following matters: (i) to remove the
consequences of failing to complete a "Qualifying Transaction " (as defined in Policy 2.4) within 24 months of
the Corporation's date of listing on the TSXV; and (ii) to amend the escrow release conditions and certain other
provisions of the Corporation's escrow agreement. All mat ters submitted to shareholders of the Corporation for
approval at the Meeting are more particularly described in the Corporation's management information circular
dated January 22, 2021 (the " Circular "). Please refer to the Circular for further details wi th respect to the
amendments associated with the New CPC Policy.
The proposed amendments remain subject to the final approval of the TSXV.
For further information, please contact:
David Rosenkrantz
Pinehurst Capital I Inc., CEO
p: +1 416-865-0123
The TSXV has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its
Regulation Services Provider (as that term is defined in the pol icies of the TSXV) accepts responsibility for the
adequacy or accuracy of this release.
Cautionary and Forward-Looking Statements
This news release contains certain statements that may constitute forward-looking statements under applicable
securities laws. Forward-looking statements are not historical facts but represent management's current expectation
of future events, and can be identified by words such as "believe", "expects", "will", "intends", "plans", "projects",
"anticipates", "estimates", "continues" and similar e xpressions. Although management believes that the
expectations represented in such forward-looking statements are reasonable, there can be no assurance that they
will prove to be correct.
By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties
that could cause actual future results, conditions, actions or events to differ materially from those in the forward-
looking statements. The future outcomes that relate to forwa rd-looking statements may be influenced by many
factors, including but not limited to: SARS CoV-2; relian ce on key personnel; shareholder and regulatory
approvals; risks of future legal proceedings; income tax matters; availability and terms of financing; distribution
of securities; commodities pricing; currency movements, esp ecially as between the USD and CDN; effect of
market interest rates on price of securities; and, potential dilution.