| ||NOT FOR DISSEMINATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATES OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA.
VANCOUVER, Canada, May 14, 2019 - Lund Enterprises Corp. (TSXV: LEN), (the "Company" or "Lund") announces that, further to its press release dated February 28, 2019 whereby Lund announced it had entered into a definitive share exchange agreement with 1163631 B.C. Ltd. ("116") and each of the shareholders of 116 ("116 Shareholders") pursuant to which Lund will acquire all of the issued and outstanding shares in the capital of 116 from the 116 Shareholders (the "Proposed Transaction"), Lund and 116 have agreed to amend the terms of the warrants ("Warrants") issuable in connection with Lund's non-brokered private placement (the "Concurrent Financing") of units for aggregate gross proceeds of a minimum amount of $3,300,000. As previously announced, if the closing price of the resulting issuer's common shares following completion of the Proposed Transaction on the TSX Venture Exchange ("TSXV"), or such other Canadian stock exchange on which the common shares are then principally traded, is equal to or exceeds $1.00 per share for a period of five consecutive trading days, the resulting issuer may, at its option, accelerate the expiry of the Warrants by giving notice to the holders thereof.
Lund and 116 have agreed to eliminate this accelerated expiration provision from the terms of the Warrants.
Other than as described above, all other terms of the Concurrent Financing remain unchanged.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
Lund Enterprises Corp.
President and Chief Executive Officer
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Lund's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Proposed Transaction and the Concurrent Financing. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Lund. The material factors and assumptions include the parties to the Proposed Transaction being able to obtain the necessary regulatory approvals; TSXV policies not changing; and completion of satisfactory due diligence. Risk factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking information include, among other things: conditions imposed by the TSXV, changes in tax laws, general economic and business conditions; and changes in the regulatory regulation. Lund cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this release is made as of the date hereof and Lund undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.