Consolidated HCI Announces Proposed Reverse Takeover By Vaxxinator Enterprises

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TORONTO, April 19, 2021 /CNW/ - Consolidated HCI Holdings Corporation (NEX: CXA.H) ("Consolidated HCI" or the "Company") is pleased to announce it has entered into a letter of intent with Vaxxinator Enterprises Inc. ("Vaxxinator"), dated as of April 18, 2021 (the "LOI") outlining the proposed terms and conditions pursuant to which Consolidated HCI and Vaxxinator will effect a business combination that will result in a reverse takeover of Consolidated HCI by the shareholders of Vaxxinator (the "Proposed Transaction"). The entity resulting from the Proposed Transaction (the "Resulting Issuer") will continue to carry on the business of Vaxxinator as a clean technology company. The LOI was negotiated at arm's length.

In connection with the Proposed Transaction, the Company intends to change its name to "Vaxxinator Enterprises Inc." or such other name requested by Vaxxinator and acceptable to applicable regulatory authorities.

The Proposed Transaction will be structured as an amalgamation, arrangement, takeover bid, share purchase or other similar form of transaction mutually acceptable to Consolidated HCI and Vaxxinator. The Proposed Transaction will not be completed while Consolidated HCI is listed on the NEX board of the TSX Venture Exchange ("TSXV"). The Company intends to issue a subsequent press release with comprehensive details relating to the Proposed Transaction.

About Consolidated HCI Holdings Corporation

Consolidated HCI is an Ontario-based company that trades on the NEX board under the symbol "CXA.H".

Advisory on Forward-Looking Information

This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the parties may not proceed with the LOI and the Proposed Transaction; that the ultimate terms of the LOI and the Proposed Transaction will differ from those that are currently contemplated, and that the LOI and the Proposed Transaction will not be successfully completed for any reason. The terms and conditions of the Proposed Transaction may change based on the Company's due diligence. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

SOURCE Consolidated HCI Holdings Corporation


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