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VANCOUVER, British Columbia, Oct. 31, 2019 (GLOBE NEWSWIRE) — Rebel Capital Inc. (“Rebel” or the “Corporation”) (TSXV: RBL.P), a capital pool company listed on the TSX Venture Exchange (the “TSXV”), wishes to announce that it will not be proceeding with its previously announced Qualifying Transaction (as defined in the CPC Policy) (see press release dated September 30, 2019), as certain conditions of the Transaction were not met by the required dates.
On October 29, 2019, DLC Pittsburgh Data Center 1 LLC, a wholly owned subsidiary of Rebel, terminated the proposed acquisition of a property (the “Property”) located in Pittsburgh, Pennsylvania containing a 91,790 square foot data center with a three-storey connected 43,800 square foot office property on an approximately 7.65 acre site (the “Proposed Transaction”).
The Proposed Transaction was intended to constitute Rebel’s “Qualifying Transaction” in accordance with TSXV Policy 2.4 – Capital Pool Companies.
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Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release includes the intention of the Company to seek other opportunities in respect of a potential qualifying transaction. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing, the volatility of the Company’s common share price and volume and reliance on key and qualified personnel. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
Rebel is incorporated under the provisions of the Business Corporations Act (British Columbia) with its registered and head office in Vancouver, British Columbia. Rebel is a “reporting issuer” in the provinces of Ontario, British Columbia and Alberta. Rebel Shares are listed for trading on the TSXV under the symbol “RBL.P”.
SOURCE: Rebel Capital Inc.