MAACKK Capital Corp. Provides Corporate Updates

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Calgary, Alberta–(Newsfile Corp. – March 28, 2021) – MAACKK Capital Corp. (“MAACKK” or the “Company“) has the following corporate updates.

Updated shares outstanding

MAACKK reports that is has returned to treasury for cancelation 437,609 common shares of the Company that were subject to a TSX-V Tier 2 Value Security Escrow Agreement (“Escrow Agreement”) that was entered into when the Company completed a qualifying transaction on January 8, 2013. The conditions for the release of the common shares in the Escrow Agreement had not been met before the common shares were required to be cancelled. The Company currently has 11,652,971 common shares issued and outstanding.

Letter of Intent with LEIIO Wellness Ltd.

The letter of intent between LEIIO Wellness Ltd. (“LEIIO”) and MAACKK for a reverse take-over of MAACKK by LEIIO as detailed in a press release dated March 4, 2021 has been terminated. The parties were not able to fulfill all the conditions in the letter of intent. Each party paid their own costs related to the letter of intent. MAACKK continues to evaluate acquisition opportunities.

Annual General Meeting

MAACKK’s annual general meeting has been scheduled for May 14, 2021. Further information will be provided to MAACKK shareholders in due course.

About MAACKK Capital Corp.

MAACKK is an investment company with a focus on the acquisition of income producing businesses.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Peter Cheung, Chief Executive Officer and Chief Financial Officer
MAACKK Capital Corp.
Email: peter.cheung@spotlightinvestments.com

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/78763