Rider 2 Investment Capital Corp. Announces Proposed Transaction

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[{"type":"text","content":"Rider 2 Investment Capital Corp. Announces Proposed TransactionCalgary, Alberta--(Newsfile Corp. - May 11, 2021) - Rider 2 Investment Capital Corp. (TSXV: RIDR.P) (the \"Corporation\" or \"Rider 2\"), is pleased to announce that it has entered into a non-binding letter of intent (the \"LOI\") dated May 10, 2021, with D Block Discoveries Inc., an arm's length mining exploration company with mineral exploration projects in Canada. Pursuant to the LOI, the Corporation, subject to entering into a definitive agreement (the \"Transaction Agreement\"), has agreed to combine with the private company by way of share exchange, merger, amalgamation, arrangement, or other similar form of transaction (the \"Transaction\"). The Transaction is an arm's length transaction and, when completed, may be considered to be the Qualifying Transaction for the purposes of the TSX Venture Exchange Inc. (\"TSXV\"). The Corporation has requested its common shares (\"Shares\") be halted by the TSXV pending review of materials for the Transaction.Trading in Rider 2 Shares on the TSXV is halted and will remain so until the documentation required by the TSXV has been reviewed and accepted by the TSXV.This is an initial press release. The Corporation plans to issue a further press release once it has entered into the Transaction Agreement to provide, among other things, selected financial information respecting the private company and the Transaction.Subject to satisfaction or waiver of the conditions precedent referred to herein, Rider 2 anticipates the proposed Transaction will be completed prior to July 30, 2021. Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable pursuant to TSXV Requirements, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. 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 filing statement to be 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 a capital pool company should be considere...

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