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TORONTO, May 4, 2022 /CNW/ - Trillium Acquisition Corp. (TSXV: TCK.P) ("Trillium" or the "Company") is pleased to announce that at its Annual General and Special Meeting held on May 3, 2022 (the "Meeting"), it has received the necessary shareholder approval for all proposed amendments including disinterested shareholder approval for bringing the Company's practices and operations in line with the January 1, 2021 revisions to TSX Venture Exchange (the "Exchange") Policy 2.4 "Capital Pool Companies" ("Policy 2.4"), as previously announced on March 24, 2022. In particular, shareholders have approved:

    1. amendments to the Company's stock option plan to, among other things, to become a 10% rolling option plan prior to the Company completing its Qualifying Transaction in accordance with Exchange policies (a "QT");
    2. removal of the consequences associated with the Company not completing a QT within 24 months of the Company's date of listing on the Exchange;
    3. amendments to the escrow release conditions and certain other provisions of the Company's escrow agreement, including allowing the Company's escrowed securities to be subject to an 18-month escrow release schedule;
    4. permitting payment of a finder's fee or commission to a Non-Arm's Length Party to the Company upon completion of a QT;
    5. the appointment of Richter LLP as the auditor of the Company for the ensuing year;
    6. setting the number of directors of the Company at four; and
    7. the election of Kelly Hanczyk, Theodore Manziaris, Deborah Bell and David Davies as directors of the Company until Trillium's next annual general meeting or until such time as their successors are duly elected or appointed in accordance with the Business Corporations Act and the Company's constating documents.

Please refer to the Company's March 24, 2022 news release, notice of annual general and special meeting of shareholders dated March 30, 2022 and management information circular dated March 30, 2022 for further details with respect to the above matters and the amendments adopted in accordance with the revised Policy 2.4.

About Trillium

Trillium is a CPC within the meaning of the policies of the TSX Venture Exchange that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the CPC policy, until the completion of its Qualifying Transaction (as defined in the policies of the TSX Venture Exchange), the Company will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed Qualifying Transaction.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Trillium Acquisition Corp.

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