Business
Trail Blazing Ventures Ltd. Announces Updates Regarding Shareholder Meeting and Transaction with Hempalta Inc.
Calgary, Alberta--(Newsfile Corp. - March 15, 2024) - Trail Blazing Ventures Ltd. (TSXV: BLAZ.P) ...
About this update from Next Phase Ventures Limited
[{"type":"text","content":"Trail Blazing Ventures Ltd. Announces Updates Regarding Shareholder Meeting and Transaction with Hempalta Inc.Calgary, Alberta--(Newsfile Corp. - March 15, 2024) - Trail Blazing Ventures Ltd. (TSXV: BLAZ.P) (the \"Corporation\" or \"TBV\"), a capital pool company under the policies of the TSX Venture Exchange (the \"TSXV\"), is pleased to announce that at its annual and special meeting of shareholders held earlier today (the \"Meeting\"), shareholders of TBV approved the resolutions necessary to give effect to the proposed qualifying transaction (the \"Qualifying Transaction\") with Hempalta Inc. (\"HEMPALTA\").The resolution in respect of the Qualifying Transaction was approved by 99.62% of votes cast by the minority shareholders of TBV. Additionally, TBV shareholders approved all of the other annual and special meeting matters set forth in the notice of meeting and management information circular for the Meeting.The closing of the Qualifying Transaction is anticipated to take place on or about March 19, 2024. The Qualifying Transaction remain subject to a number of closing conditions, as described in the Corporation's management information circular (the \"Circular\") in respect of the Meeting, which is available on SEDAR+ under the Corporation's profile at www.sedarplus.ca.About TBV TBV is a capital pool company (a \"CPC\") that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the TSXV's CPC Policy, until the completion of its qualifying transaction, TBV will not carry on business, other than the identification and evaluation of businesses or assets with a view to completing a proposed qualifying transaction. About HEMPALTA HEMPALTA is a private company incorporated under the Business Corporations Act (Alberta). 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 goods, and retail sales experience. In 2023, HEMPALTA was named one of the Top 10 Startups by Calgary's Launch...