Hopefield Ventures Inc. Announces Closing of Initial Public Offering

August 05, 2021 at 08:50 AM EDT

VANCOUVER, BC – TheNewswire - August 5, 2021 – Hopefield Ventures Inc. (TSXV:HVI.P) (“Hopefield”) is pleased to announce that on August 5, 2021 it successfully completed its initial public offering (the “Offering”), raising gross proceeds of $2,500,000 pursuant to a prospectus dated July 26, 2021. An aggregate of 25,000,000 common shares in the authorized share structure of Hopefield (the "Shares") were subscribed for at a price of $0.10 per Share.

PI Financial Corp. (the “Agent”) acted as the agent for the Offering. The Agent, and certain subagents, received a cash commission equal to 8% of the gross proceeds of the Offering and an option to purchase 2,000,000 Shares at a price of $0.10 per Share for a period of 24 months from the date of listing of the Shares on the TSX Venture Exchange (the "Exchange").

Hopefield is a "capital pool company" and intends to use the net proceeds of the Offering to identify and evaluate assets or businesses for acquisition with a view to completing a "Qualifying Transaction" under the policies of the Exchange. On August 3, 2021, the Exchange issued a bulletin announcing the listing of the Shares as of the close of market on August 4, 2021. The Shares are expected to commence trading under the trading symbol "HVI.P" on August 5, 2021.

Upon closing of the Offering, Hopefield granted 2,500,000 stock options to its directors and officers which are exercisable within ten years from the date of the grant at an exercise price of $0.10 per Share.

As a result of the closing of the Offering, Hopefield now has 38,700,000 Shares issued and outstanding.

About Hopefield

Hopefield is a “capital pool company” within the meaning of the policies of the Exchange that has not commenced commercial operations and has no assets other than cash. The board of directors of Hopefield consists of Messrs. Mark Binns, Mark Healy and Chris Donaldson.

The officers of Hopefield are Mark Binns, Chief Executive Officer, and Zula Kropivnitski, Chief Financial Officer and Corporate Secretary. Except as specifically contemplated in the Exchange's CPC policy, until the completion of its Qualifying Transaction (as defined under the policies of the Exchange), Hopefield 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.

For further information, please contact:

Mark Binns, Chief Executive Officer
Telephone: (604) 681-0084
Email: mark.binns1@gmail.com

Neither 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 release.

This news release may contain certain “Forward-Looking Statements” as defined under applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to: the use of proceeds from the Offering; identifying and evaluating Qualifying Transactions; the completion of proposed transactions; the business of Hopefield; the trading of the Shares on the Exchange; and other information. Such statements represent Hopefield’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by Hopefield, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Hopefield does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.