TSX-V: MAN.P
VANCOUVER, BC, July 12,
2023 /CNW/ - Mandala Capital Inc. (the
"Company") announces changes to the directors and
officers of the Company and a transfer of escrowed shares (the
"Transfers") pursuant to the Company's escrow share transfer
agreement dated August 11, 2022 (the
"Escrow Agreement").
Michael Williams and Harry Tian have been appointed as directors of
the Company. John-Mark Staude has
been appointed as Vice President, Corporate Development of the
Company. Jonson Sun has resigned from his position as a director of
the Company. The Company would like to thank Mr. Sun for his
services and wishes him all the best in his future endeavours.
Pursuant to the Escrow Agreement, former directors, officers and
certain other shareholders of the Company will transfer their
escrowed shares to the new directors and officers of the Company.
An aggregate of 1,400,000 common shares of the Company within
escrow will be transferred.
The Transfers have been approved by the TSX Venture Exchange
(the "TSXV").
About Mandala Capital
Inc.
The Company is designated as a Capital Pool Company under Policy
2.4 of the TSXV. The Company has not commenced commercial
operations and has no assets other than cash. The Company with use
the funds raised from its initial public offering to identify and
evaluate businesses or assets with a view to completing a
Qualifying Transaction (as defined in the amended and restated
prospectus dated November 25, 2022).
Any proposed Qualifying Transaction must be approved by the TSXV
and, in the case of a non-arm's length Qualifying Transaction, must
also receive majority approval of the minority shareholders. Until
the completion of a Qualifying Transaction, the Company will not
carry on any business other than the identification and evaluation
of businesses or assets with a view to completing a proposed
Qualifying Transaction.
A copy of this press release will appear on the Company's SEDAR
profile at www.sedar.com. For further information regarding the
Company, the Escrow Agreement, and the Company's management team,
please contact Patrick Sapphire, Chief Executive Officer, at (647)
530-1117.
Neither TSX Venture Exchange 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 release.
SOURCE Mandala Capital Inc.