Vancouver, British Columbia / TheNewswire / January 31, 2019.  Ponderous Panda Capital Corp. ("PPCC" or the "Company") (TSX VENTURE: PPCC.P), a capital pool company, announces that the Agreement in Principle PPCC had entered into with Trait Biosciences Inc. (“Trait”), as announced by News Release dated June 7, 2018 has been mutually terminated by the parties.

 

The parties had made extensive attempts to agree definitive terms for the proposed transaction, however such terms could not be agreed within a timeframe that met the parties’ expectations.

 

As a result PPCC 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 February 4, 2019.

 

Other Information and Updates

 

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

 

About PPCC

 

PPCC 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:

 

David W. Smalley,

President and C.E.O.

Ponderous Panda Capital Corp.

Phone: 604.684.4535

 

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.