Efficacious Elk Capital Corp. Announces Expiration of Letter of Intent and Termination of Proposed Qualifying Transaction with Frontier Wellness Management Inc.

(TheNewswire)

Vancouver, British Columbia -TheNewswire - March 10, 2020 - Efficacious Elk Capital Corp. ("EECC" or the "Company") (TSXV:EECC.P), a capital pool company, announces that the Letter of Intent EECC had entered into with Frontier Wellness Management Inc. (“Frontier”), as announced by News Release dated July 23, 2019 has expired and will not be extended by the parties.

The parties made extensive efforts to complete the proposed transaction, however market conditions are such that the proposed transaction could not be completed within a timeframe that met the parties’ expectations.

As a result EECC is now actively seeking a business to acquire as its qualifying transaction.

It is expected that the Company’s common shares will recommence trading on the TSX Venture Exchange on March 12, 2020.

Other Information and Updates

EECC will continue to provide further details in respect of any proposed qualifying transaction, in due course, by way of news releases.

About EECC

EECC is a capital pool company. The Company is engaged in the identification and evaluation of assets or businesses with a view to completing a qualifying transaction.

For further information please contact:

Eugene A. Hodgson, President and C.E.O.

Efficacious Elk Capital Corp.

Phone: (604) 805-6600

Neither 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.

Copyright (c) 2020 TheNewswire - All rights reserved.

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