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BGP ACQUISITION CORP. PROVIDES AN UPDATED INFORMATION ABOUT BUSINESS INTEGRATION WITH CRAFT 1861 GLOBAL, INC.


Vancouver, British Columbia, December 2, 2022 /CNW/ – BGP Acquisition Corp. (NEO: BGP.U) (NEO: BGP.WT.U) (OTCQX: BGPPF) (OTCQX: BGPAF) (“Ltd.” Also “BGP”), announced today that it has obtained receipts for its final prospectus dated December 1, 2022 (“final prospectus“) With respect to its business combination (defined below), the Company expects the business combination to be completed in the following weeks. December 26, 2022.

The final prospectus contains details of Kommuninvest’s proposed combination (seebusiness combination“) Craft 1861 Global, Inc. (“craft global“) and is available on SEDAR at www.sedar.com. The Company will mail a definitive prospectus to holders of Class A Restricted Voting Stock (“Class A Restricted Voting Stock“) of the Corporation over the next few days.

In connection with the Business Combination, holders of Class A Restricted Voting Shares will have the right to redeem all or part of the Class A Restricted Voting Shares. 5:00 pm (Toronto time) on December 28, 2022 (or any other date announced by us in a news release), in accordance with the instructions contained in the notice of redemption (“Notice of RedemptionRedemption notices will be mailed to all holders of Class A Restricted Voting Stock and will be available on SEDAR.1

In the course of reviewing the Corporation’s provisional unsolicited prospectus, October 26, 2022 (“provisional prospectus“), Ontario Securities Commission (“OSC“) expressed concerns about the reasonableness of the assumptions underlying the forward-looking financial information, particularly regarding future earnings and EBITDA (“Outlook”) dates contained in news releases and investor presentations, respectively October 20, 2022 SEDAR, and was filed in a preliminary prospectus. After consultation with the OSC, BGP has agreed to formally withdraw the Outlook and BGP will withdraw it. The outlook was not included in the final prospectus and BGP has resubmitted a new version of its investor presentation that does not include the outlook (which is now also available on SEDAR).

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1 This redemption opportunity is available in the Company’s Management Information Circular (“Roundfiled with respect to the next Extraordinary General Meeting of Owners of Class A Restricted Voting Shares (“meetingDetails regarding the shareholders’ meeting and related redemption opportunities are set forth in a circular previously mailed to all holders of Class A Restricted Voting Shares and available on SEDAR.

About BGP Acquisition

BGP Acquisition Corp. is a special purpose acquisition corporation incorporated under state law. british columbia Directly or indirectly, for the purpose of making a qualifying transaction within a specified period of time.

About Craft 1861 Global, Inc.

Craft Global is a minority-driven, U.S.-based health and wellness company within the cannabinoid sector focused on scientific research and development, technology, cultivation, product development, advanced manufacturing, distribution, wholesale, and brand development. is. Craft Global operates within the non-psychoactive hemp-derived CBD space with THC-free consumer packaged goods. 1861 Market is also a vertically integrated cannabis company with growing, producing and marketing operations. new mexico, and plans to expand its THC business into other jurisdictions through the sale of its own branded THC products. Craft Global is part of a generation of global renown by consolidating the global demand for cannabis (including both CBD and THC products) and making it a mainstream component of the health and wellness lifestyle. We aim to capitalize on what management believes is a one-time opportunity. , which focuses on cannabis-based performance and recovery products and services.

Forward-Looking Statements

This press release may contain forward-looking information within the meaning of applicable securities laws, which reflects the Company’s current expectations regarding future events, including the proposed business combination. The words “expect,” “aim,” “believe,” and similar expressions or words implying future results are often intended to identify forward-looking information, but are not always Forward-looking information does not contain these specific words. In addition, statements that refer to expectations, forecasts or other characterizations of future events or circumstances include forward-looking statements. Forward-looking statements are not historical facts and are neither guarantees nor guarantees of future performance, but represent management’s current beliefs, expectations, estimates and projections regarding future events and performance. increase. Certain forward-looking information contained in this press release includes, but is not limited to, statements regarding the completion of the business combination and related matters, including information regarding the redemption of Class A shares with restricted voting rights. .

Forward-looking statements reflect management’s current beliefs, expectations and assumptions and reflect management’s currently available information, management’s past experience, perceptions and expectations of trends and current business conditions. future developments and such other factors as management believes appropriate. Forward-looking information is based on a number of assumptions, opinions and estimates and is subject to a number of risks and uncertainties. Many of these are beyond our control and actual results and events could differ materially. disclosed or implied in such forward-looking information. Such risks and uncertainties include, but are not limited to, those factors discussed under “Risk Factors” in the Final Prospectus.

If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove to be incorrect, actual results or future events may change. may differ materially from those anticipated in the forward-looking information. Therefore, undue reliance should not be placed on forward-looking information, which speaks only of the date on which it was made. The forward-looking information contained in this news release represents our expectations as of the date of this news release and is subject to change after that date. We undertake no obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

SOURCE BGP Acquisition Corporation

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View original content: http://www.newswire.ca/en/releases/archive/December2022/02/c5337.html



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