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VANCOUVER, BC / ACCESSWIRE / November 25, 2021 / Sceptre Ventures Inc. ("Sceptre" and/or the "Company") (TSXV:SVP.H) announces that further to its news release dated September 17, 2021, and following the revocation of the dual cease trade order of the BC Securities Commission and Ontario Securities Commission issued against the Company on November 4, 2020, the TSX Venture Exchange has issued a Bulletin dated November 25, 2021 announcing the reinstatement of trading of the Company's common shares on the NEX Board of the TSX Venture Exchange to be effective at market open on November 26, 2021.
In connection with the reinstatement of trading, Sceptre provides the following operational updates:
Company Overview
Sceptre Ventures Inc. is a Capital Pool Company ("CPC") within the meaning of the policies of the TSX Venture Exchange and has not commenced commercial operations and has no assets other than cash. Sceptre is currently engaged in identifying and evaluating businesses and assets with a view to completing a Qualifying Transaction under the Exchange's CPC policy.
Upcoming Shareholder Meeting and Share Consolidation
On November 5, 2021, the Company announced that it called an Annual and Special Meeting of shareholders scheduled for December 8, 2021 (the "Meeting") with record date being October 29, 2021. As part of that Meeting, shareholders of the Company will be asked to approve a special resolution (the "Consolidation Resolution") approving the consolidation of the issued and outstanding common shares of the Company on a one new (1) for four old (4) basis (the "Consolidation"). The 20,808,344 common shares of the Company outstanding would reduce to approximately 5,202,086 common shares, once approved by shareholders and the TSX Venture Exchange. The Company will not change its name in conjunction with the Consolidation. The Company's board of directors believes that the Consolidation will provide the Company with the opportunity to complete a financing in the near future and to advance future projects. The details of the share consolidation are included in the information circular filed on the Company's SEDAR profile.
Filing of Audited Financial Statements
On September 22, 2021, the Company filed its audited financial statements for the years ended June 30, 2021 and 2020, which are available on the Company's SEDAR profile.
Revocation of Cease Trade Order
On September 17, 2021, the Company announced that the British Columbia Securities Commission and the Ontario Securities Commission revoked the cease trade order issued against the Company on November 4, 2020 (the "Cease Trade Order"). For more information regarding the Cease Trade Order, please see the Company's news releases dated October 15, 2020 and October 29, 2020 filed on the Company's SEDAR profile.
Board and Management Changes
On July 14, 2021, the Company announced that it appointed Mike Hodge and Sean Charland to the Company's board of directors and Jody Bellefleur as the Company's chief financial officer and corporate secretary, effective July 12, 2021. The appointments by the Company filled the vacancies resulting from the resignations of Graham Abbott as a director, Trent Fedak as corporate secretary and a director, and Luis Hadic as chief financial officer.
About Sceptre Ventures Inc.
Sceptre Ventures Inc. is a Capital Pool Company ("CPC") within the meaning of the policies of the TSX Venture Exchange and has not commenced commercial operations and has no assets other than cash. Sceptre is currently engaged in identifying and evaluating businesses and assets with a view to completing a Qualifying Transaction under the Exchange's CPC policy.
For Further Information:
Suite 1450-789 West Pender Street
Vancouver, BC, V6C 1H2, Canada
Tel: 604-688-4219
Email: [email protected]
FORWARD LOOKING INFORMATION
Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections - statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include statements about the Consolidation, its terms, and its anticipated benefits; that the Consolidation will provide the Company with the opportunity to complete a financing in the near future; and the Company's application for reinstatement of trading of its common shares on the NEX Board of the Exchange. These forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation: (i) the Company's inability to resume trading on the Exchange; (ii) the Company's inability to obtain the necessary approvals for the Consolidation or to complete a financing following the Consolidation; and (iii) other risks and uncertainties identified as risk factors in the Company's continuous disclosure documents filed on SEDAR. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. The Company cannot assure that actual events, performance or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. These forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and the Company does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, readers should not place undue reliance on forward-looking statements.
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 news release.
SOURCE: Sceptre Ventures Inc.