TORONTO, Sept. 20, 2019 (GLOBE NEWSWIRE) -- Apolo II Acquisition Corp. (“Apolo” or the “Corporation”) (TSXV: APII) is pleased to announce that the TSX Venture Exchange (the “TSXV”) has conditionally accepted its proposed qualifying transaction (the “Transaction”) with Terrace Inc. (“Terrace”), which, upon completion, will result in a reverse take-over of Apolo by the shareholders of Terrace. A preliminary non-offering prospectus in respect of the Transaction has been prepared and filed under Apolo’s issuer profile on SEDAR at www.sedar.com.

Terrace was incorporated pursuant to the provisions of the Business Corporations Act (Ontario) on August 28, 2018. Terrace is a multi-country operator focused on the development and acquisition of international cannabis assets.

Reference is also made to Apolo’s news releases dated November 13, 2018, July 17 and July 22, 2019 for additional information relating to Apolo, Terrace and the Transaction.

Further Information

All information contained in this news release with respect to Apolo and Terrace was supplied by the parties respectively, for inclusion herein, and each party and its directors and officers have relied on the other party for any information concerning the other party. For further information regarding the Transaction, please contact:

Apolo II Acquisition Corp.
Jeff Hergott, Corporate Secretary
Telephone: 416.361.4783

Terrace Inc.
Francisco Ortiz von Bismarck, CEO and Director
E-mail: fortizvonbismarck@terraceglobal.ca

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance. 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 non-offering prospectus to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, statements about the Corporation’s future plans and intentions, completion of the Transaction and the listing of the resulting issuer shares on the TSXV. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Corporation cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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