Mr. Charles Walensky reports
MAYFAIR ACQUISITION CORP. ANNOUNCES RESUMPTION OF TRADING ON TSX VENTURE EXCHANGE, APPOINTMENT OF NEW DIRECTOR AND PROPOSED SHARE CONSOLIDATION
Trading of Mayfair Acquisition Corp.'s common shares on the TSX Venture Exchange will resume effective at the open of market on the date that is two business days following issuance of the TSX-V bulletin therefor.
The board of directors of the company has recommended and authorized, subject to TSX-V acceptance, a consolidation of the company's outstanding common shares on the basis of one postconsolidation common share for five preconsolidation common shares. The effective date and further details of the consolidation will be disclosed in a subsequent news release following receipt of all requisite approvals.
As disclosed in the company's news release dated Dec. 23, 2024, Bart Kelleher resigned as a director of the company for personal reasons. The company's last annual general meeting (AGM) was held on Feb. 8, 2024, and a 2025 annual general meeting date for Sept. 30, 2025, had initially been set; however, due to the inability to find a third director nominee to the board at the time, the company made the decision to delay holding an AGM until a suitable third director nominee could be found. In addition, due to the board comprising only two members following Mr. Kelleher's resignation, the composition of the board and the company's audit committee do not currently comply with the independence and audit committee composition requirements under the policies of the TSX-V.
Subject to TSX-V acceptance, the company proposes to appoint Mark Tommasi as a member of the board to fill the vacancy left by Mr. Kelleher's resignation. Mr. Tommasi is a capital markets consultant and the chief executive officer of Mountain Top Advisory Services and president of Canary Gold Corp., and serves as a director of Ironman International Ltd. and KUA Investments Inc. Mr. Tommasi brings over 30 years of experience in capital markets, corporate development and advisory services. The company intends to call an AGM as soon as practicable and in any event within 90 days following the date hereof once the requisite TSX-V acceptance is obtained for appointing Mr. Tommasi as a director of the company, following which the composition of the board and the audit committee will be in compliance with applicable TSX-V requirements.
About Mayfair Acquisition Corp.
Mayfair is a capital pool company (as defined in the manual) listed on the TSX-V and a reporting issuer in the provinces of British Columbia, Alberta and Ontario. Mayfair has no commercial operations and no assets other than cash. Mayfair's only business is to identify and evaluate assets or businesses with a view to completing a qualifying transaction (as defined in Policy 2.4).
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