Calgary, Alberta--(Newsfile Corp. - April 23, 2025) - Timeless Capital Corp. (TSXV: TLC.P) ("Timeless" or the "Corporation") announces that the board of directors of the Corporation, has approved the grant of stock options pursuant to its stock option plan (the "Plan") to its directors and officers, to purchase up to an aggregate of 1,150,000 common shares in the capital of the company (the "Options"). The Options are granted on a conditional basis, subject to approval by the shareholders of the Corporation at the next annual general meeting, are exercisable at a price of $0.05 per common share and will expire 3 years from the date of grant. The Options are subject to the terms of the Plan, the applicable Option agreements, and the requirements of the TSX Venture Exchange (the "Exchange") and the directors and officers will be subject to regular Exchange escrow and vesting requirements on conversion.
The Company also announces that Fahim Gadallah has resigned as Chief Executive Officer but will remain as a director of the Corporation. The board extends its gratitude to Mr. Gadallah for his service. Blair Jordan, currently a director and Chief Financial Officer, has been appointed to succeed Mr. Gadallah as Chief Executive Officer, effective immediately.
Additionally, the Company announces the retirement of Danish Wasim as a director. Mr. Wasim has served on the board with dedication, and the Company thanks him for his contributions.
About Timeless Capital Corp.
About Timeless Capital Corp. Timeless is a CPC that completed its initial public offering and obtained a listing on the Exchange in October, 2018 (trading symbol: "TLC.P"). It does not own any assets, other than cash or cash equivalents. The principal business of Timeless is to identify and evaluate opportunities for the acquisition of an interest in assets or businesses and, once identified and evaluated, to negotiate an acquisition or participation subject to acceptance by the Exchange so as to complete a qualifying transaction in accordance with the policies of the Exchange.
For further information, please contact:
Timeless Capital Corp.
Blair Jordan
Phone: (778) 899-6281
Cautionary Notes
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of the content of this release.
This press release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward Looking Information
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to: the terms and conditions of the Private Placement; the closing date for the Private Placement; and anticipated use of net proceeds from the Private Placement. Often, but not always, forward-looking statements or information can be identified by the use of words such as "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. With respect to forward-looking statements and information contained herein, Timeless has made numerous assumptions including among other things, assumptions about general business and economic conditions. The foregoing list of assumptions is not exhaustive.
Although management of Timeless believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks relating to Timeless' financing efforts; risks associated with the business of Timeless given its limited operating history; changes in interest and currency exchange rates; government action or delays in the receipt of government approvals; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; changes in laws; risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required; and other risk factors as detailed from time to time. Timeless does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249620
SOURCE: Timeless Capital Corp.
