Calgary, Alberta--(Newsfile Corp. - May 30, 2025) - Transition Opportunities Corp. (TSXV: TOP.P) ("Transition" or the "Company"), a capital pool company as defined under TSX Venture Exchange ("TSXV" or the "Exchange") policies announces that, further to the Company's press releases dated August 20, 2024 and November 27, 2024, the previously announced non-binding letter of intent dated August 17, 2024 between the Company and InterGroup Mining Ltd. ("IGM") has been terminated in accordance with its terms. The Company will no longer be proceeding with the proposed reverse takeover of Transition by IGM (the "Proposed Transaction"). The Proposed Transaction was intended to constitute the Company's "Qualifying Transaction" pursuant to Policy 2.4 - Capital Pool Companies of the TSXV ("Policy 2.4").
The Company is now evaluating other acquisition opportunities with a view to completing a Qualifying Transaction.
About Transition
Transition is incorporated under the Business Corporations Act (Alberta) and is a capital pool company within the meaning of the policies of the Exchange. Transition has not commenced operations and has no assets other than cash. Transition's principal business is the identification and evaluation of assets or businesses with a view to completing a "Qualifying Transaction" under Policy 2.4.
Further Information
John Pantazopoulos, Director
Email: pantazop.home@gmail.com
Phone: (403) 801-5015
Forward-Looking Information
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this press release, forward-looking statements relate, among other things, to any proposed future Qualifying Transaction of the Company. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those express or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
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SOURCE: Transition Opportunities Corp.
