Calgary, Alberta--(Newsfile Corp. - April 5, 2024) - Bow Lake Capital Corp. (TSXV: BLCC.P) (the "Corporation") announces the appointment of Jeremy Ross to the position of Chief Executive Officer of the Corporation.
Arthur Kwan has resigned as Chief Executive Officer and from the board of directors of the Corporation (the "Board"), effective immediately. The Corporation would like to thank Mr. Kwan for his service and wishes him well in his future endeavors.
Mr. Ross has over 24 years of experience in venture capital financings and serving in various roles for a number of successful public companies. Mr. Ross was a director and consultant for Fission Uranium Corp. and Fission Energy Corp. (TSX Venture Top 50 Company). He was also the head of corporate development for Able Auctions and Smart Tire systems, both of which graduated from the OTC-BB to the NYSE.
Grant and Cancellation of Stock Options
On April 5, 2024, the Corporation granted an aggregate of 180,000 incentive stock options ("Options") to purchase common shares of the Corporation ("Common Shares") to certain directors pursuant to the Corporation's stock incentive plan. The Options are exercisable as a price of $0.10 per Common Share and have an expiry date of five years from the date of grant, being April 5, 2029.
In connection with the resignation of Mr. Kwan the Corporation also cancelled an aggregate of 180,000 Options held by Mr. Kwan (the "Cancelled Options"). The Cancelled Options were granted on March 24, 2022, had an exercise price of $0.10 and an expiry date five years from the date of grant, being March 24, 2027. The Cancelled Options were voluntarily surrendered by Mr. Kwan for no consideration.
About the Corporation
The Corporation is a "capital pool company" within the meaning of the policies of the TSX Venture Exchange ("TSXV") that has not commenced commercial operations and has no assets other than cash. Following the departure of Mr. Kwan, the board of directors of the Corporation consists of Murray Hinz, Jeremy Ross, Michael Lang and Michael Saliken. Until the completion of its Qualifying Transaction (as such term is defined in the policies of the TSXV), the Corporation will not carry on business other than the identification and evaluation of companies, business or assets with a view to completing a proposed Qualifying Transaction.
Investors are cautioned that trading in the securities of a capital pool company should be considered highly speculative.
For further information, please contact:
Bow Lake Capital Corp.
Jeremy Ross - Chief Executive Officer and Director
Phone: (604) 537-7556
Forward-Looking Information Cautionary Statement
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "intends" "expects" and similar expressions which are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the issuance of the Options by the Corporation. The Corporation cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Corporation. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Corporation. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release, and the Corporation does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
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