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Jinhua Capital Corp (2)
Symbol	JHC
Shares Issued	17,681,636
Recent Sedar+ Documents

Jinhua Capital hopes to complete Musk QT in 30 days

2023-05-16 16:20 ET - News Release

Adam Subject: Jinhua Capital News for immediate dissemination Word Document File: '\\swfile\EmailIn\20230516 125047 Attachment NR - May 16, '23 Providing Update on QT.DOCX' - 2 - Jinhua Capital Corporation JHC:NEX JINHUA CAPITAL CORPORATION Suite 2905 - 700 West Georgia Street Vancouver, British Columbia V7Y 1C6 NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES Jinhua Provides Update on Proposed Qualifying Transaction with Musk Metals Corp. Vancouver, B.C., May 16, 2023 - Jinhua Capital Corporation (NEX: JHC.H) (the "Company" or "Jinhua"), a capital pool company ("CPC") as defined under Policy 2.4 - Capital Pool Companies ("Policy 2.4") of the TSX Venture Exchange (the "Exchange"), provides the following update to supplement the disclosure related to the Company's previously announced and conditionally approved Qualifying Transaction, as defined under the Exchange Policy 2.4, with Musk Metals Corp. ("Musk"). The Company and Musk (together, the "Parties") continue to work towards the closing of the Transaction (the "Closing") and, in connection therewith, anticipate closing within the next 30 days. The Company also announces that, further to its news releases dated October 27, 2021, January 25, 2022, May 11, 2022 and May 13, 2022, the Company is proceeding with its previously announced Concurrent Financing (the "Concurrent Financing") of approximately $500,000 in gross proceeds. The Closing remains subject to the satisfaction of various conditions standard for a transaction of this nature, including but not limited to: (i) receipt of all necessary regulatory, shareholder and third party consents, waivers and approvals, including final Exchange approval; (ii) the absence of any material adverse change in the business, affairs or operations of the Company or Musk, as applicable; and (iii) completion of the Concurrent Financing. All capitalized terms use but otherwise not defined herein shall have the meanings ascribed thereto in the Company's filing statement dated effective May 13, 2022 (the "Filing Statement") prepared in accordance with the policies of the Exchange. A copy of the Filing Statement is available under the Company's profile on SEDAR. The Company is updating the Filing Statement and intends to file the update on SEDAR prior to the Closing in accordance with Exchange policies. About Jinhua Capital Corporation Jinhua Capital Corporation is a CPC as defined by the policies of the Exchange. The Company's principal business activity is to identify and evaluate opportunities for acquisition of assets or business. The Company is headquartered in Vancouver, British Columbia. About Musk Metals Corporation Musk is a publicly traded exploration company focused on the development of prospective, discovery-stage mineral properties located in some of Canada's top mining jurisdictions. The growing portfolio of mineral properties exhibit favorable geological characteristics in underexplored areas within the "Electric Avenue" pegmatite field of northwestern Ontario, the "Abitibi Lithium Camp" of southwestern Quebec, the "Golden Triangle" district of British Columbia, the Mineral Rich "Red Lake" mining camp of Northwestern Ontario and the "ChapaisChibougamau" mining camp, the second largest mining camp in Quebec, Canada. Additional Information All information contained in this news release with respect to the Company and Musk was supplied, for inclusion herein, by the respective parties and each party and its directors and officers have relied on the other party for any information concerning the other party. The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Contact Information For further information, please contact: Jinhua Capital Corporation Negar Adam CEO, CFO, Secretary and Director T: (604) 646-6906 E: negar@cococapital.ca Disclaimer for Forward-Looking Information Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the completion of the Transaction and related transactions. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include statements relating to the Private Placement and the closing of the Transaction within 30 days. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. The risks include but are not limited to, the inability of the Company to complete the Private Placement as required by the Exchange; and the inability of the Company to obtain final acceptance of the Qualifying Transaction from the Exchange. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors carefully in evaluating the forward-looking statements contained in this news release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. These forward-looking statements are made as of the date hereof and Jinhua disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. Completion of the Transaction is subject to a number of conditions. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to this Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a CPC should be considered highly speculative. The TSX Venture Exchange has in no way passed upon the merits of the Transaction described herein and has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.