Welsbach Technology Metallic Element Acquisition Corp. (the “Company”) proclaimed today that on December 30, 2022, it delivered and sold to Welsbach Acquisition Holdings LLC (the “Sponsor”) a non-interest bearing, an indiscreet promissory note equal to $772,768.60 (the “Proceeds”), then that such Proceeds were placed on deposit in the Company’s Hope Account on December 23, 2022.
As such, in harmony with Article G of the Company’s amended and repeated certificate of incorporation, the Company’s period to perfect a Business Combination has been extended to and with March 30, 20.
Such note would not be reimbursed if the Company is unable to close a business mixture unless there are funds available outside the trust version to do so and would also be paid upon consummation of the initial business grouping out of the proceeds of the Trust Account released to the Company or, at the Sponsor’s discretion, converted, in full or in part, upon consummation of our business grouping into additional private units at a worth of $10.00 per unit.
This media release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any auction of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be illegal before registration or qualification under the safety’s laws of any such state or jurisdiction.
Cautionary Statement Regarding Forward-Looking Statements
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This press release covers statements that constitute “forward-looking statements,” including with admiration to the potential conversion of the promissory memo by the Sponsor into additional private assignment units and the due deposit of the proceeds of such acquisition in the Company’s Trust Account.
No declaration can be given that the above transactions will be completed on the terms labeled. Forward-looking reports are subject to numerous conditions, many of which are outside the control of the Company.
Investor Contact:
Christopher Clower, Welsbach Technology Metals Acquisition Corp.
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