Toronto, Ontario--(Newsfile Corp. - December 31, 2025) - Meraki Acquisition One, Inc. (TSXV: MRKI.P) (the "Company") announces that the Letter Agreement dated July 31, 2025 with Torque Strategy, Inc. ("Torque"), previously announced on August 1, 2025 as a proposed qualifying transaction (the "Proposed Transaction"), has expired without completion and is therefore terminated.
The Proposed Transaction was subject to various conditions, including completion of required financing and regulatory approvals on or before December 31, 2025. As the parties were unable to satisfy these conditions by the agreed timeline, the binding obligations under the Letter Agreement have now ended, and neither Meraki nor Torque has any further obligations in respect of the Proposed Transaction.
Meraki continues to evaluate and pursue other acquisition opportunities with a view to completing a qualifying transaction in accordance with the policies of the TSX Venture Exchange ("TSXV") and will provide further updates as appropriate.
No deposit or cash advance was made by the Company to Torque in connection with the Proposed Transaction.
Trading in the Company's common shares was halted at the request of the Company and will resume once the TSXV has completed its resumption review, if applicable.
About Meraki Acquisition One, Inc.
The Company has not commenced commercial operations and has no assets other than a minimum amount of cash. Except as specifically contemplated in the TSXV Policy 2.4 - Capital Pool Companies, until completion of a qualifying transaction the Company will not carry on any business other than the identification and evaluation of assets or businesses with a view to completing a proposed qualifying transaction under the policies of the TSXV.
Neither the TSXV nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Information:
Certain information set forth in this press release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, including any proposed future qualifying transaction of the Company. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals (both in Canada and internationally). Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward looking information. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events, or otherwise, except as may be required by applicable securities law.
Joel Arberman, Chief Executive Officer at (516) 299-9092 or joel@merakiacquisition.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279225
Source: Meraki Acquisition One, Inc.
