TORONTO, Sept. 24, 2026 (GLOBE NEWSWIRE) -- MAK Acquisition Corp. (TSX: MAK.U) ("MAK") announced today that it has delivered a notice of breach to Uni Express Inc. ("UniUni") pursuant to the purchase agreement (the "Purchase Agreement") among MAK and UniUni governing the proposed reverse take-over by MAK of UniUni (the "Proposed Transaction"). Pursuant to the terms of the Purchase Agreement, UniUni agreed to operate its business within certain specified parameters during the interim period, including a defined maximum cumulative pre-tax loss. Since the announcement of the Proposed Transaction, UniUni's business and financial performance has deteriorated. MAK believes this constitutes a material breach of the Purchase Agreement.
The delivery of the notice of breach triggers a 15 business day cure period during which UniUni may cure the breach. If UniUni is unable to cure the breach within such period, MAK intends to exercise its rights to terminate the Purchase Agreement.
About MAK Acquisition Corp.
MAK is a special purpose acquisition corporation focused on niche-market businesses providing critical solutions, with strong revenue retention and diversified customer bases. MAK is an exempted company formed under the laws of the Cayman Islands. MAK completed its initial public offering in October 2025 and its securities are listed on the Toronto Stock Exchange under the symbols "MAK.U" and "MAK.WT". For more information, visit www.makacquisitioncorp.com.
Forward-Looking Information
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "Forward-looking information") within the meaning of applicable securities laws, including with respect to the Company's qualifying acquisition. This forward-looking information is identified by the use of terms and phrases such as "may", "would", "should", "could", "expect", "intend", "estimate", "anticipate", "plan", "foresee", "believe", or "continue", the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. Economic and geopolitical uncertainties, including regional conflicts and wars, including potential impacts of sanctions, may also heighten the impact of certain factors described herein. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances.