Montreal, QC, March 21, 2017 – Cortina Capital Corp. (TMXV: CCN.P) (“Cortina” or the “Company”) is pleased to announce that both Cortina and Ecolomondo Corporation Inc. (“Ecolomondo”) have waived the condition precedent regarding their respective due diligence, such satisfactory due diligence being a condition precedent to the completion of the proposed Qualifying Transaction, as disclosed in Cortina’s press release filed on SEDAR dated January 20, 2017, and announcing the signing of a Letter of Intent with Ecolomondo.
Cortina will now move forward with Ecolomondo with respect to the completion of the Qualifying Transaction and the satisfaction of the remaining closing conditions, including but not limited to, the execution of a definitive Share Purchase Agreement, obtaining required approval by shareholders, third party and regulatory authorities, and completion of the Financing (as this term is defined in the Company’s press release dated January 20, 2017 and available on SEDAR).
Cortina is a capital pool company (as this term is defined in the Exchange Policy 2.4). The Company is engaged in the identification and evaluation of assets or businesses with a view of completing a Qualifying Transaction. Cortina is a “reporting issuer” in the Provinces of Quebec, British Columbia and Alberta.
Ecolomondo is a development stage clean tech company that has designed, engineered and developed a thermo-reaction process using a pyrolytic platform that converts hydrocarbon waste into marketable commodity end-products, namely carbon black substitute, oil, gas and steel. Ecolomondo plans to manufacture turnkey facilities based on this technology platform and sell them to clients, and collect royalties from their operation, or operate them through wholly or jointly-owned subsidiaries.
For further information:
Mr. Steve Forget
President and Chief Executive Officer
Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholders approval. Where applicable, the transaction cannot close until the required shareholders approval is obtained. There can be no assurance that the 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 transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.