Physinorth Announces Extension to Proposed Qualifying Transaction Deadline
MONTREAL, Quebec, Dec. 23, 2019 (GLOBE NEWSWIRE) — Physinorth Acquisition Corp. (TSXV: PSN.P) (“Physinorth” or the “Corporation”) announces that the TSX Venture Exchange (the “Exchange”) has agreed to extend the period by which it has to complete its proposed Qualifying Transaction (as such term is defined in policy 2.4 of the Exchange). As a result, the Corporation has until March 26, 2020 to complete its proposed Qualifying Transaction with 6150977 Canada Inc. and its subsidiary Excel Health Inc., 8961760 Canada Inc. and 10544485 Canada Inc., a group of privately-held Canadian companies doing business as Groupe Premier Soin, as previously announced by the Corporation in its press release dated October 1, 2019.
For Further Information Please Contact:Mr. Jean-Robert Pronovost
Chief Executive Officer
Physinorth Acquisition Corporation Inc.
[email protected] / 514-581-1473Completion of the Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance. 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 prepared in connection with the Transaction and available on SEDAR, 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.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed Transaction; the terms and conditions of the proposed private placement; use of funds; and the business and operations of the resulting issuer after the proposed Transaction. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the ability of the Resulting Issuer to execute and achieve its business objectives. 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. Physinorth and Premier Soin disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Factors that could cause actual results to differ materially from expectations include (i) the inability of Physinorth and Premier Soin to obtain the necessary approvals for the Transaction, (ii) an inability or unwillingness of Physinorth of Premier Soin to complete the Transaction for whatever reason, (iii) an inability to secure subscribers or obtain funds under the concomitant private placement and (iv) generally, an inability of Physinorth to develop and implement a successful business plan for any reason. These factors and others are more fully discussed in the filings of Physinorth with Canadian securities regulatory authorities available at www.sedar.com.