February 5, 2024 – TheNewswire -- Richmond, BC – ICARUS CAPITAL CORP. (TSXV:ICRS) Icarus Capital Corp (“Icarus”) is pleased to announce that it has entered into an agreement with Now Global Distribution Inc.  (“Now Global”) to assume the duties and benefits of several entertainment contracts which are owned by Now Global. Pursuant to the transaction (the “Transaction) Icarus will acquire the rights to two theatre shows scheduled at the White Rock Players club in 2024. This includes ticket revenues for the events, sold both prior to and after the execution of the agreement. The Transaction is a non-arms-length transaction with Eric Y. Lapointe, COO, of Icarus.

Subject to the approval  of the TSX Venture Exchange Inc. (the “TSXV”), the consideration payable is 200,000 Common shares of Icarus (issued at a deemed value equal to the market close on the day prior to the date of issuance).

The Transaction with Now Global is reviewable under Policy 5.3 of the TSXV by virtue of it being a non arm’s-length transaction.

The Transaction is exempt from the valuation and shareholder approval requirements of Multilateral Instrument 61-101.

About Icarus

Icarus Capital Corp. (TSXV – ICRS) was incorporated under the provisions of the Business Corporations Act (BC) on Feb 2, 2021. Icarus completed its full Tier II listing on the TSXV on September 29, 2023 under the trading symbol “ICRS”. Icarus will now operate Yuk Yuk’s Comedy Clubs in Calgary, AB and as well as host theatre shows in BC.  

Further Information

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed acquisitions and has neither approved nor disapproved the contents of this press release.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the transactions; the business plans of Icarus; use of funds; and the business and operations of the Issuer. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay and failure to receive applicable Board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. These forward-looking statements are made as of the date hereof and Icarus disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

For further information regarding the above, please contact:

Garry Yuill, Chief Executive Officer, Icarus Capital Corp.

Email: garry@icaruscapital.ca

Telephone: (778) 866 - 9041

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWS WIRES