Business
Trail Blazing Ventures Ltd. Enters into Definitive Agreement with Hempalta Inc. in Respect of Proposed Qualifying Transaction
Calgary, Alberta--(Newsfile Corp. - November 15, 2023) - Trail Blazing Ventures Ltd. (TSXV: BLAZ....
About this update from Hempalta Corp
[{"type":"text","content":"Trail Blazing Ventures Ltd. Enters into Definitive Agreement with Hempalta Inc. in Respect of Proposed Qualifying TransactionCalgary, Alberta--(Newsfile Corp. - November 15, 2023) - Trail Blazing Ventures Ltd. (TSXV: BLAZ.P) (\"TBV\"), a capital pool company as defined under Policy 2.4 - Capital Pool Companies (\"CPC\") of the TSX Venture Exchange (the \"Exchange\"), is pleased to announce that, further to its news release dated October 11, 2023, it has entered into a definitive amalgamation agreement dated November 15, 2023 (the \"Amalgamation Agreement\") with Hempalta Inc. (\"HEMPALTA\"). Pursuant to the Amalgamation Agreement, TBV's wholly-owned subsidiary, 2562764 Alberta Inc. (\"Subco\"), will amalgamate with HEMPALTA (the \"Amalgamation\") to complete TBV's qualifying transaction (the \"Transaction\") in accordance with the policies of the Exchange.In connection with the Amalgamation, it is intended that TBV will be renamed to \"Hempalta Corp.\" (the \"Resulting Issuer\") and is expected to trade under the symbol \"HEMP\". The Transaction is subject to the receipt of all necessary regulatory and shareholder approvals required by applicable corporate law, including the approval of the Exchange, as well as the satisfaction of conditions to closing as set out in the Amalgamation Agreement. It is intended the Resulting Issuer will continue the business of HEMPALTA and be listed on the Exchange as an Industrial issuer, subject to Exchange approval.About HEMPALTAHEMPALTA is a private company incorporated under the Business Corporations Act (Alberta) (\"ABCA\") incorporated in November 2021 under the name 2387761 Alberta Ltd. HEMPALTA™ is an agricultural technology company focused on harnessing the immense potential of industrial hemp. HEMPALTA is pioneering the global hemp carbon credit industry and utilizing advanced agricultural technology to process industrial hemp at scale. HEMPALTA makes products from hemp grown sustainably in Southern Alberta and processes the hemp using a state-of-the-art HempTrain™ Advanced Processing Plant at the company's production facility in Calgary, Alberta into various consumer products which are sold and distributed through various retail channels. HEMPALTA is led by passionate advocates for industrial hemp who have years of operations, manufacturing, marketing, consumer packaged g...