Business
EUREKA CAPITAL CORP. ANNOUNCES TERMINATION OF BUSINESS COMBINATION AGREEMENT WITH EMPIRE HYDROGEN ENERGY SYSTEMS INC.
EUREKA CAPITAL CORP. ANNOUNCES TERMINATION OF BUSINESS COMBINATION AGREEMENT WITH EMPIRE HYDROGEN...
About this update from Eureka Capital Corp.
[{"type":"text","content":"\n\n\n\n EUREKA CAPITAL CORP. ANNOUNCES TERMINATION OF BUSINESS COMBINATION AGREEMENT WITH EMPIRE HYDROGEN ENERGY SYSTEMS INC.\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n /NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION\n \n\n IN\n \n THE UNITED STATES\n \n /\n \n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Feb. 20, 2025\n \n\n /CNW/ - Eureka Capital Corp. (TSXV: EBCD.P) (\"\n \n Eureka\n \n \") a capital pool company as defined under Policy 2.4 – Capital Pool Companies of the TSX Venture Exchange (the \"\n \n Exchange\n \n \") is announcing that, further to its previous news release dated\n \n August 23, 2024\n \n (the \"\n \n August News Release\n \n \") in which it announced that it had entered into a business combination agreement (the \"\n \n Definitive Agreement\n \n \") with Empire Hydrogen Energy Systems Inc. (\"\n \n Empire\n \n \"), whereby Eureka's wholly-owned subsidiary, 16299440 Canada Inc., would amalgamate with Empire to complete Eureka's qualifying transaction (the \"\n \n Proposed Transaction\n \n \"), subject to certain conditions further detailed within the Definitive Agreement (the \"\n \n Conditions\n \n\n Precedent\n \n \"), effective\n \n February 19, 2025\n \n , Eureka has decided to terminate the Proposed Transaction (the \"\n \n Termination\n \n \").\n \n\n\n\n Termination of the Definitive Agreement\n \n\n\n\n On\n \n February 19, 2025\n \n , in accordance with the terms and conditions of the Definitive Agreement, Eureka provided Empire with written notice of its immediate termination of the Definitive Agreement. The Termination resulted from certain Conditions Precedent failing to be met within the timelines prescribed pursuant to the Definitive Agreement.\n \n\n \"This decision was not taken lightly\" said\n \n Minaz Lalani\n \n , Eureka CEO, \"and both organizations worked hard to consummate this transaction. Certain hurdles throughout the process led to significant delays, which led to the unfortunate realiz...