UIC.H Universal Infrastructure Corp

NOT FOR DISSEMINATION IN THE UNITED STATES

Universal Infrastructure Corp. (TSX VENTURE:UIC.H) ("Universal") and Global
Alternative Investments Inc. (TSX VENTURE:GLI.H) ("Global") (collectively, the
"CPCs") announce that they have terminated the acquisition agreement
("Acquisition Agreement") entered into by the CPCs, 2221754 Ontario Limited
(Universal's wholly-owned subsidiary) and Ra Resources Ltd. ("Ra") with respect
to the CPCs' proposed business combination and subsequent acquisition of all of
the issued and outstanding securities of Ra (the "Proposed Qualifying
Transaction"). The Proposed Qualifying Transaction was not completed as a result
of Ra failing to complete the private placement financing, of at least $1.2
million, which was a condition to the completion of the Qualifying Transaction.


The CPCs have also demanded repayment from Ra of the $12,500 advanced by each of
the CPCs to Ra in accordance with the Policies of the TSX Venture Exchange.


Each of the Boards of Directors of the CPCs has resolved, after giving
consideration to the available resources of their respective CPC and the
likelihood of being able to complete a qualifying transaction, that it is in the
best interest of shareholders to delist and wind up their respective CPC and to
return any residual capital to shareholders. The CPCs will each be calling a
special meeting of its shareholders in the near term to seek approval for its
voluntary delisting, wind-up and dissolution.


This press release contains forward-looking information which is not comprised
of historical facts, including those identified by the expressions "expect",
"will" and similar expressions. The forward-looking information reflects
Global's and Universal's current expectations regarding future results or
events. Forward-looking information involves risks, uncertainties and other
factors that could cause actual events, results, performance and opportunities
to differ materially from those expressed or implied by such forward-looking
information. Forward-looking information in this press release includes, but is
not limited to, the CPCs' expectations respecting the delisting, wind-up and
dissolution of the CPCs. Factors that could cause actual results or events to
differ materially from those described in such forward-looking information
include, but are not limited to, receiving the required approvals from
shareholders and the NEX. Although the CPCs believe that the assumptions and
factors used in preparing the forward-looking information are reasonable,
readers are cautioned not to place undue reliance on such forward-looking
information, which only applies as of the date of this press release, and no
assurance can be given that such events will occur in the disclosed time frames
or at all. Neither of the CPCs undertakes any obligation to update
forward-looking information if circumstances of their respective management's
expectations of options should change, except as required by applicable
securities laws.

Universal Infrastructure Corp (TSXV:UIC.H)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024

Universal Infrastructure Corp (TSXV:UIC.H)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024