RCF Acquisition Corp. Announces Results of Shareholder Redemptions
May 15 2023 - 7:00AM
RCF Acquisition Corp. (“RCFA”), a special purpose acquisition
company, today announced that each of the proposals submitted at
its extraordinary general meeting in lieu of annual meeting of
shareholders (the “Extraordinary General Meeting”), which was held
on May 9, 2023, were approved. At the Extraordinary General
Meeting, RCFA sought shareholder approval to, among other things,
extend the time it has to consummate an initial business
combination from May 15, 2023 to May 15, 2024 (the
“Extended Date”).
After taking into account the number of shares
that were submitted for redemption, the Company expects to have
approximately $136.7 million remaining in its trust account
established in connection with its initial public offering.
As previously announced, on March 14, 2023, RCFA
signed a non-binding letter of intent for a business combination
with a company in the critical minerals sector (“Target”). RCFA
continues to work diligently toward consummating an initial
business combination by the Extended Date. However, no
assurances can be made that RCFA and Target will successfully
negotiate and enter into a definitive agreement regarding a
business combination or that RCFA will be able to consummate an
initial business combination by the Extended Date. Any transaction
would be subject to board and equity holder approval of both
companies, regulatory approvals and other customary closing
conditions.
Forward Looking Statements
This press release includes forward-looking
statements that involve risks and uncertainties. Forward-looking
statements are statements that are not historical facts. Such
forward-looking statements are subject to risks and uncertainties,
to which could cause actual results to differ from the
forward-looking statements. These forward-looking statements and
factors that may cause such differences include, without
limitation, RCFA’s inability to complete an initial business
combination within the required time period, and other risks and
uncertainties indicated from time to time in filings with the U.S.
Securities and Exchange Commission (the “SEC”), including the
RCFA’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2022, filed with the SEC on March 7, 2023, under the
heading “Risk Factors,” and other documents RCFA has filed, or to
be filed, with the SEC. Readers are cautioned not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. RCFA expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in RCFA’s expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based.
Contacts
RCF Acquisition Corp.(720)
946-1444info@rcfacquisitioncorp.com
Perception Capital Corp IV (NYSE:RCFA.U)
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