Star Metro - Mayfair Acquisition Corp. Announces Resumption of Trading on TSX Venture Exchange, Appointment of New Director and Proposed Share Consolidation

The Board of Directors of the Company (the "Board") has recommended and authorized, subject to TSXV acceptance, a consolidation of the Company's outstanding common shares on the basis of five (5) pre-consolidation common shares for one (1) post-consolidation common share (the "Consolidation"). The effective date and further details of the Consolidation will be disclosed in a subsequent news release following receipt of all requisite approvals.

As disclosed in the Company's news release dated December 23, 2024, Bart Kelleher resigned as a director of the Company for personal reasons. The Company's last annual general meeting ("AGM") was held on February 8, 2024 and a 2025 annual general meeting date for September 30, 2025 had initially been set; however, due to the inability to find a third director nominee to the Board at the time, the Company made the decision to delay holding an AGM until a suitable third director nominee could be found. In addition, due to the Board being comprised of only two members following Mr. Kelleher's resignation, the composition of the Board and the Company's audit committee do not currently comply with the independence and audit committee composition requirements under the policies of the TSXV.

Subject to TSXV acceptance, the Company proposes to appoint Mark Tommasi as a member of the Board to fill the vacancy left by Mr. Kelleher's resignation. Mr. Tommasi is a capital markets consultant and the CEO of Mountain Top Advisory Services, President of Canary Gold Corp. and serves as a Director of Ironman International Ltd., and KUA Investments Inc. Mr. Tommasi brings over 30 years of experience in capital markets, corporate development, and advisory services. The Company intends to call an AGM as soon as practicable and in any event within 90 days following the date hereof once the requisite TSXV acceptance is obtained for appointing Mr. Tommasi as a director of the Company, following which the composition of the Board and the audit committee will be in compliance with applicable TSXV requirements.

About Mayfair Acquisition Corp.

Mayfair is a Capital Pool Company (as defined in the Manual) listed on the TSXV and a reporting issuer in the Provinces of British Columbia, Alberta and Ontario. Mayfair has no commercial operations and no assets other than cash. Mayfair's only business is to identify and evaluate assets or businesses with a view to completing a Qualifying Transaction (as defined in Policy 2.4).

For more information, please contact:

Mayfair Acquisition Corp.
Attn: Charles Walensky, CEO
Email: [email protected]
Phone: +1 612 928-5421

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 press release.

Forward-Looking Statements

This news release may include certain forward-looking information and statements within the meaning of applicable securities legislation (collectively, "forward-looking statements"). In particular, and without limitation, this news release contains forward-looking statements respecting the timing resumption of trading of the Company's common shares for trading on the TSXV and the plans to appoint Mr. Tommasi as a director of the Company and the timing to hold the Company's next AGM. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation, the assumption that no unforeseen circumstances will arise that would cause the resumption of trading of the Company's common shares on TSXV to be delayed; that TSXV acceptance of the Consolidation and the appointment of Mr. Tommasi will be provided in a timely manner subject only to standard conditions. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking statements contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

SOURCE: Mayfair Acquisition Corp.

View the original press release on ACCESS Newswire

A.Harris--SMC