FG ACQUISITION CORP. ANNOUNCES TERMINATION OF BUSINESS COMBINATION AGREEMENT WITH THINK FINANCIAL GROUP HOLDINGS LIMITED
TORONTO, Dec. 7, 2023 /CNW/ - FG ACQUISITION CORP. (TSX: FGAA.U) (TSX: FGAA.WT.U) (the "Corporation") and Think Financial Group Holdings Limited ("ThinkMarkets") announce today that they have mutually agreed to terminate the previously announced business combination agreement dated May 12, 2023, which was entered into in connection with the Corporation's proposed business combination transaction with ThinkMarkets.
The Corporation continues to evaluate other opportunities to consummate a qualifying acquisition prior to July 5, 2024, the date by which the Corporation has to consummate a qualifying acquisition, as approved by the Corporation's shareholders at the special meeting of shareholders held on June 29, 2023.
"We wish ThinkMarkets well in their future endeavors. With our robust merchant banking activities in both Canada and the United States, we look forward to pursuing a new target for the Corporation in the days and weeks ahead," stated Kyle Cerminara, Chair of the Corporation's board, and Larry Swets, Chief Executive Officer.
"We would like to thank the team at FG for the opportunity provided. We are looking forward to 2024 and expanding on our long term growth strategy and objectives," stated Nauman Anees, CEO and Co-Founder of ThinkMarkets.
About FG Acquisition Corp.
FG Acquisition Corp. is a special purpose acquisition company incorporated under the laws of the Province of British Columbia for the purpose of effecting an acquisition of one or more businesses or assets, by way of a merger, amalgamation, arrangement, share exchange, asset acquisition, share purchase, reorganization, or any other similar business combination involving the Corporation that will qualify as its "qualifying acquisition". For more information regarding the Corporation, see the Corporation's most recent annual information form, financial statements, management's discussion & analysis and other continuous disclosure documents periodically filed on SEDAR+.
This press release may contain forward‐looking information within the meaning of applicable securities legislation, which reflects the Corporation's current expectations regarding future events. Forward‐looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Corporation's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking information. The Corporation does not undertake any obligation to update such forward‐looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
SOURCE FG Acquisition Corp.
Released December 7, 2023