Spectre Announces Shareholder Meeting And Proposed Implementation Of Changes In Accordance With New TSXV CPC Policy

About this update from Spectre Capital Corp.

[{"type":"text","content":"Spectre Announces Shareholder Meeting And Proposed Implementation Of Changes In Accordance With New TSXV CPC PolicyVANCOUVER, BC / ACCESSWIRE / March 2, 2022 / Spectre Capital Corp. (\"Spectre\" or the \"Corporation\") announces its intention to implement (subject to shareholder approval) certain amendments to avail itself of changes arising from the TSX Venture Exchange's (the \"Exchange\") updated Policy 2.4 Capital Pool Companies that came into effect on January 1, 2021 (the \"New CPC Policy\").Under the New CPC Policy, an existing Capital Pool Company (\"CPC\") can implement certain changes with specific disinterested shareholder approval. Further to this, the Corporation will be seeking such approval at its upcoming special meeting of shareholders scheduled to be held on March 22, 2022 (the \"Meeting\"), to carry out the following special meeting matters: (i) to remove the consequences of failing to complete a Qualifying Transaction within 24 months of the date the Corporation's common shares became listed on the Exchange; and (ii) to enter into a new escrow agreement to supersede and replace the original share escrow agreement entered into by the Corporation.The proposed amendments are described in further detail in the Management Information Circular of the Corporation, which will be mailed to shareholders and filed on SEDAR on or before the prescribed mailing date. A summary of the proposed amendments are as follows:Removal of the Consequences of Failing to Complete a Qualifying Transaction within 24 Months of ListingUnder the former policy, there were certain consequences if a Qualifying Transaction was not completed within 24 months of the date the Corporation's common shares became listed on the Exchange. These consequences included a potential for Corporation's shares to be delisted or suspended, or, subject to the approval of the majority of the Corporation's shareholders, transferring Corporation to the NEX and cancelling certain seed shares. Under the New CPC Policy, these consequences will be removed provided the Corporation obtains disinterested shareholder approval to do so.At the Meeting, the Corporation will seek the approval from disinterested shareholders to approve the removal of such consequences.Replacement of the Escrow AgreementUnder the former policy, the Corporation entered into an escrow agreement d...

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