TORONTO, Nov. 01, 2023 (GLOBE NEWSWIRE) -- HALMONT PROPERTIES CORPORATION (TSX-V: HMT) (“Halmont” or the “Company”) is pleased to announce that the Company is anticipating filing articles of amendment to amend the rights and restrictions of its existing class of Class A common voting shares (the “Class A Common Shares”) and its existing class of Class B common shares (the “Class B Common Shares”) on November 15, 2023 (the “Articles of Amendment”).

Pursuant to the Articles of Amendment, the Class A Common Shares will be re-designated as multiple voting shares (the “Multiple Voting Common Shares”) and the Class B Common Shares will be re-designated as subordinate voting shares (the “Subordinate Voting Common Shares”). The holders of Multiple Voting Common Shares will be entitled to five (5) votes per Multiple Voting Common Share and the holders of Subordinate Voting Common Shares will be entitled to one (1) vote per Subordinate Voting Common Share.

The Company received the required shareholder approvals and authorizations at the Company’s annual general meeting and special meeting of the shareholders of the Company held on June 21, 2023. The Articles of Amendment remain subject to the approval of the TSX Venture Exchange (the “TSX-V”).

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain forward-looking statements including the Company’s ability to file the Articles of Amendment on November 15, 2023, and the TSX-V’s final approval of the Articles of Amendment. All statements other than statements of historic facts are forward-looking statements. These statements contain substantial known and unknown risks and uncertainties, some of which are beyond the Company’s control. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements. Readers should not place undue reliance on these forward-looking statements which represent estimates and assumptions only as of the date on which such statements are made. Readers are encouraged to review the Company’s risks outlined in its public disclosure documents available on SEDAR+ (https://www.sedarplus.ca). The Company undertakes no obligation to publicly revise or update any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

For additional information:
Heather M. Fitzpatrick,
President
T: (647) 448-7147