NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
CALGARY, AB / ACCESSWIRE / January 12, 2021 / Further to the press release dated April 23, 2020, Navion Capital Inc. (TSXV:NAVN.P) (the 'Corporation') is pleased to announce that it has entered into an extension agreement ('LOI Extension Agreement') in respect of the previously announced non-binding letter of intent ('LOI') with Daizee Diapers Corp. ('Daizee') dated January 11, 2021 (the 'Proposed Transacton'). The LOI Extension Agreement, extends the exclusivity period between the Corporation and Daziee in the LOI to March 31, 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 a private placement financing of approximately 8,000,000 units (the 'Units') of Daizee at a price of $0.10 per Unit for proceeds of approximately $800,000, with each Unit consisting of one common share of Daizee and one-half purchase warrant, which each full warrant being exerciseable into a common share at a price of $0.20 for a period of twenty four (24) months from the date of issuance.
About Daizee Diapers Corp.
Daizee Diapers Corp. is the maker of the patented Hybrid Diaper product line that is produced in Canada with compostable plant-based components that provide an excellent softness and environmental profile that helps reduce garbage levels. Daizee intends to work with a network of retailer partners and their online and instore 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
All information contained in this news release with respect to the Corporation and Daizee was supplied by 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 applicable 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 Proposed 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 can 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 statements 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 anticipated 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 and 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 factors 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 Proposed 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 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, estimated 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 forward-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.
SOURCE: Navion Capital Inc.
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