Maritime Launch Services Inc V.JFC

SPAC heading for space?

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TORONTO, Feb. 14, 2022 (GLOBE NEWSWIRE) — Ceres Acquisition Corp. (NEO: CERE.U, CERE.WT; OTCQX: CERAF) (“Ceres” or the “Corporation”) announced today that it has entered into a non-binding letter of intent with Maritime Launch Services Ltd. (“MLS”) to combine with MLS as its qualifying transaction. Under the terms of the letter of intent, MLS’ shareholders would exchange their shares in MLS for Ceres common shares.  

The parties are continuing to negotiate the transaction terms and there can be no assurance that binding definitive agreements will be reached. Any transaction would be subject to, among other things, Ceres board and regulatory approvals, and Ceres’ shareholders would be entitled to a redemption right.

Ceres has previously called a special meeting of its shareholders to approve an extension of the time for Ceres to complete a qualifying transaction until June 30, 2022. The special meeting is scheduled to be held on February 23, 2022.

About Ceres Acquisition Corp. 
Ceres is a special purpose acquisition corporation incorporated under the laws of the Province of British Columbia for the purpose of effecting an acquisition of one or more businesses or assets, by way of a merger, amalgamation, arrangement, share exchange, asset acquisition, share purchase, reorganization, or any other similar business combination involving the Corporation.