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Termination of the Agreement in Principle With Respect to a Qualifying Transaction Between Orletto Capital II Inc. and Sigma Energy Storage Inc.

/EIN News/ -- QUEBEC CITY, May 17, 2019 (GLOBE NEWSWIRE) -- Benoit Chotard, President of Orletto Capital II Inc. (“Orletto”) (TSX-V “OLT.P”), a Capital Pool Company, announces the termination of the letter of intention with Sigma Energy Storage Inc. (“Sigma”) for the realization of a qualifying transaction, as per Policy 2.4 of the TSX Venture Exchange (the “Exchange”), as previously announced on Orletto’s press release dated February 5, 2019.

According to the terms of the letter of intent, the conditions of the agreement in principle were not respected and it has been decided, by common agreement, not to proceed with a qualifying transaction between Orletto and Sigma.

Orletto’s principal business to identify and evaluate assets or business for the purpose of announcing a qualifying transaction, such as stipulated in Policy 2.4 of the TSX Venture Exchange Corporate Finance Manual, is ongoing.

For further information, please contact:

Mr. Benoit Chotard
Telephone: 778-996-4676

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

Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.