Zidane Capital Announces Expiration of Letter of Intent and Termination of Proposed Qualifying Transaction with Southern Sky Resources Corp. and Transition to New CPC Policy

About this update from Zidane Capital Corp.

[{"type":"text","content":"Zidane Capital Announces Expiration of Letter of Intent and Termination of Proposed Qualifying Transaction with Southern Sky Resources Corp. and Transition to New CPC Policy\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n Not for distribution to United\nStates newswire services or for release publication, distribution or\ndissemination directly, or indirectly, in whole or in part, in or into\nthe United States.\n \n \n \n \n February 9, 2024 –\n \n \n TheNewswire\n--\n \n \n Vancouver, British Columbia - Zidane Capital\nCorp. (“\n \n \n Zidane\n \n \n ”),\n \n \n (NEX:ZZE.H)\n \n \n a capital pool company, announces that the letter of intent\nZidane had entered into with Southern Sky Resources Corp.\n(“\n \n \n Southern Sky\n \n \n ”) as announced by a news release dated October 30, 2023,\nhas expired and will not be extended by the parties.\n \n \n \n \n The parties made extensive efforts to complete the\nproposed transaction. However, market conditions are such that the\nproposed transaction could not be completed within a timeframe that\nmet the parties’ expectations.\n \n \n \n \n No monies were advanced by Zidane to Southern Sky.\nSouthern Sky has reimbursed Zidane for all of its expenses incurred in\nconnection with pursuing the proposed qualifying transaction.\n \n \n \n \n As a result, Zidane is now actively seeking a business\nto acquire as its qualifying transaction. Zidane is in the process of\nseeking approval from the TSX Venture Exchange (the “\n \n \n Exchange\n \n \n ”) for the\nresumption of trading of Zidane’s common shares on the Exchange’s\nNEX Board.\n \n \n \n \n New CPC Policy\n \n \n \n \n Pursuant to recent changes by the Exchange to its\nCapital Pool Company (“\n \n \n CPC\n \n \n ”) program and Exchange Policy 2.4 –\n \n \n Capital Pool\nCompanies\n \n \n (\"\n \n \n Policy 2.4\n \n \n \"),\nwhich became effective as of January 1, 2021 (the \"\n \n \n New CPC Policy\n \n \n \"), Zidane obtained the requisite approvals of the\nshareholders of Zidane (the \"\n \n \n Shareholders\n \n \n \")\nto adopt and align the Company with the New CPC Policy at its Annual\nGeneral and Special Meeting of Shareholders (the \"\n \n \n Meeting\n \n \n \") held\non December 29, 2023.\n \n \n \n \n Amendments to the CPC Escrow\nAg...

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