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TORONTO, Oct. 02, 2019 (GLOBE NEWSWIRE) — Apolo III Acquisition Corp. (“Apolo” or the “Corporation”) (TSXV: AIII.P) announces that the letter of intent dated May 16, 2019 (the “Letter of Intent”) in respect of a proposed transaction between Apolo and Latitude Global Cannabis Inc. (“Latitude”) has terminated in accordance with its terms as a result of the proposed transaction not being completed within certain specified time periods.  No deposit, loan or cash advance was made by the Corporation to Latitude in connection with the Letter of Intent.

Apolo will continue to pursue and evaluate other businesses and assets with a view to completing a transaction and will make further announcements with respect to these efforts as soon as practically possible.

Trading of the common shares of the Corporation is expected to resume trading on TSX Venture Exchange, subject to regulatory approval, on or about Monday, October 7, 2019.

For further information please contact:

Apolo III Acquisition Corp.
Jeff Hergott, Corporate Secretary
Telephone: 416.361.4783
Email: jhergott@wildlaw.ca

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy 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, and the resumption of trading in its common shares. 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.