CALGARY, Alberta, Sept. 28, 2020 (GLOBE NEWSWIRE) -- Newton Energy Corporation (“ Newton ”, or the “Company ”) (TSXV: NTN.H ) is pleased to announce that it has commenced delisting of its common shares from the NEX Board of the TSX Venture Exchange in connection with the previously announced business combination with Field Trip Psychedelics Inc. (“ Field Trip ”) approved at a special meeting of the securityholders of Newton held on September 23, 2020 (the “ Transaction ”). The delisting of the common shares from the NEX Board of the TSX Venture Exchange is expected to be effective on September 30, 2020.
The Transaction, whereby Field Trip will amalgamate with a wholly-owned subsidiary of the Company and the securityholders of Field Trip will become securityholders of the Company, is anticipated to be completed on or about October 1, 2020. In addition, as part of the Transaction, the Company will change its name to “Field Trip Health Ltd.” (the “ Resulting Issuer ”).
Newton is also pleased to announce that it anticipates that the Resulting Issuer’s common shares will be listed and posted for trading on the on the facilities of the Canadian Securities Exchange (the " CSE ") on or about October 7, 2020, subject to customary conditions, including the completion of the Transaction and the final approval of the CSE.
Forward-Looking Statements
This release includes forward-looking information within the meaning of Canadian securities laws regarding Newton and its business, which may include, but are not limited to, statements with respect to the delisting of the Company’s common shares from the NEX Board of the TSX Venture Exchange, the completion of the proposed Transaction, the listing of the common shares of the Company on the Canadian Securities Exchange, and the timing of such events. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of the Company, and are based on assumptions and subject to risks and uncertainties. Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the technology industry, market conditions, economic factors, management’s ability to manage and to operate the business and the equity markets generally. Although Newton has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Newton does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information please contact:
Newton Energy Corporation: Gino DeMichele, (403) 680-7898
Cautionary Statement
Completion of the Transaction is subject to a number of conditions, including, if applicable, TSX Venture Exchange and CSE 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 or listing statement 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 Newton should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this news release. 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.
The CSE has in neither approved nor disapproved the contents of this news release.
