{"id":393603,"date":"2020-12-04T10:28:17","date_gmt":"2020-12-04T15:28:17","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=393603"},"modified":"2020-12-04T10:28:17","modified_gmt":"2020-12-04T15:28:17","slug":"hl-acquisitions-corp-receives-shareholder-approval-of-business-combination-with-fusion-fuel-green","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/hl-acquisitions-corp-receives-shareholder-approval-of-business-combination-with-fusion-fuel-green\/","title":{"rendered":"HL Acquisitions Corp. Receives Shareholder Approval of Business Combination with Fusion Fuel Green"},"content":{"rendered":"<div class=\"mw_release\">\n<p>NEW YORK, NY, Dec.  04, 2020  (GLOBE NEWSWIRE) &#8212; HL Acquisitions Corp. (Nasdaq:\u00a0HCCH) (\u201cHL\u201d) and Fusion Fuel Green PLC (\u201cFusion Fuel\u201d) announced today that the shareholders of HL have approved the business combination between HL and Fusion Fuel at an annual general meeting of shareholders held today in New York. None of HL\u2019s public shares were redeemed in connection with the vote to approve the business combination. It is expected that the business combination will close in the coming days. <\/p>\n<p>Upon the closing of the business combination, each unseparated unit of HL will separate into its component parts of one ordinary share, one warrant, and one right. Each right of HL will be automatically exchanged for one-tenth (1\/10th) of one ordinary share in accordance with its terms. The ordinary shares and warrants of HL will then automatically convert into Class A ordinary shares and warrants of Fusion Fuel, respectively, and it is expected that such Class A ordinary shares and warrants will trade on the Nasdaq Capital Market under the symbols \u201cHTOO\u201d and \u201cHTOOW,\u201d respectively.<\/p>\n<p>In addition to approving the business combination, the HL shareholders elected seven directors to Fusion Fuel\u2019s board of directors \u2013 Jeffrey E. Schwarz, Frederico Figueira de Chaves, Jo\u00e3o Teixeira Wahnon, Jaime Silva, Ant\u00f3nio Augusto Gutierrez S\u00e1 da Costa, Rune Magnus Lundetrae, and Alla Jezmir. Additionally, HL\u2019s shareholders approved the material differences between HL\u2019s charter documents and Fusion Fuel\u2019s charter documents and approved the sale and issuance of 2,450,000 Fusion Fuel Class A ordinary shares in a private placement for gross proceeds of approximately $25.1 million which will close simultaneously with the business combination.<\/p>\n<p>Jeffrey Schwarz, CEO of HL, commented: \u201cWe appreciate the support our shareholders have shown for the business combination with Fusion Fuel, expressed both by way of the overwhelming vote in favor of the transaction, and with no shareholders exercising their redemption rights. We look forward to consummating the transaction and getting down to the business of building a leading player in the emerging market for Green Hydrogen.\u201d<\/p>\n<p>\n        <strong><br \/>\n          <u>Forward-looking Statements<\/u><br \/>\n        <\/strong><br \/>\n        <br \/>Certain statements made in this release are \u201cforward looking statements\u201d within the meaning of the \u201csafe harbor\u201d provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words \u201cestimates,\u201d \u201cprojected,\u201d \u201cexpects,\u201d \u201canticipates,\u201d \u201cforecasts,\u201d \u201cplans,\u201d \u201cintends,\u201d \u201cbelieves,\u201d \u201cseeks,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cfuture,\u201d \u201cpropose\u201d and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside HL\u2019s or Fusion Fuel\u2019s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statement, including, among other things, the occurrence of any event, change or other circumstances that could give rise to the termination of that certain Amended and Restated Business Combination Agreement, dated as of August 25, 2020, by and between HL, Fusion Fuel, Fusion Welcome \u2013 Fuel, S.A. and the other parties thereto, the ability to maintain the listing of Fusion Fuel\u2019s securities on Nasdaq or another national securities exchange following the business combination, changes adversely affecting the businesses in which Fusion Fuel is engaged, management of growth, general economic conditions, including changes in the credit, debit, securities, financial or capital markets, the impact of COVID-19 or other adverse public health developments on Fusion Fuel\u2019s business and operations, and the other risks and uncertainties set forth in the definitive proxy statement\/prospectus filed by each of HL and Fusion Fuel on November 10, 2020. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.<\/p>\n<p>\n        <strong><br \/>\n          <u>Use of Social Media as a Source of Material News<\/u><br \/>\n        <\/strong><br \/>\n        <br \/>Fusion Fuel intends to post a copy of the press release on its LinkedIn profile and\/or its website (www.fusion-fuel.eu) and other social media outlets. Fusion Fuel uses, and will continue to use, its LinkedIn profile, website, press releases, and various social media channels, as additional means of disclosing information to investors, the media, and others interested in Fusion Fuel. It is possible that certain information that Fusion Fuel posts on social media or its website, or disseminates in press releases, could be deemed to be material information, and Fusion Fuel encourages investors, the media and others interested in Fusion Fuel to review the business and financial information that Fusion Fuel posts on its social media channels, website, and disseminates in press releases, as such information could be deemed to be material information.<\/p>\n<p>Contact:<br \/>Jeffrey E. Schwarz<br \/>Chief Executive Officer<br \/>HL Acquisitions Corp.<br \/>(212) 486-8100<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5Njk5MCMzODU2OTkyIzUwMDA0OTkyMg==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/5a3a8b93-bb7f-47a1-b5a0-7f20b006ceee\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, NY, Dec. 04, 2020 (GLOBE NEWSWIRE) &#8212; HL Acquisitions Corp. (Nasdaq:\u00a0HCCH) (\u201cHL\u201d) and Fusion Fuel Green PLC (\u201cFusion Fuel\u201d) announced today that the shareholders of HL have approved the business combination between HL and Fusion Fuel at an annual general meeting of shareholders held today in New York. None of HL\u2019s public shares were redeemed in connection with the vote to approve the business combination. It is expected that the business combination will close in the coming days. Upon the closing of the business combination, each unseparated unit of HL will separate into its component parts of one ordinary share, one warrant, and one right. Each right of HL will be automatically exchanged for one-tenth (1\/10th) of one &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/hl-acquisitions-corp-receives-shareholder-approval-of-business-combination-with-fusion-fuel-green\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;HL Acquisitions Corp. Receives Shareholder Approval of Business Combination with Fusion Fuel Green&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-393603","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>HL Acquisitions Corp. Receives Shareholder Approval of Business Combination with Fusion Fuel Green - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/hl-acquisitions-corp-receives-shareholder-approval-of-business-combination-with-fusion-fuel-green\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HL Acquisitions Corp. Receives Shareholder Approval of Business Combination with Fusion Fuel Green - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, NY, Dec. 04, 2020 (GLOBE NEWSWIRE) &#8212; HL Acquisitions Corp. (Nasdaq:\u00a0HCCH) (\u201cHL\u201d) and Fusion Fuel Green PLC (\u201cFusion Fuel\u201d) announced today that the shareholders of HL have approved the business combination between HL and Fusion Fuel at an annual general meeting of shareholders held today in New York. None of HL\u2019s public shares were redeemed in connection with the vote to approve the business combination. It is expected that the business combination will close in the coming days. Upon the closing of the business combination, each unseparated unit of HL will separate into its component parts of one ordinary share, one warrant, and one right. Each right of HL will be automatically exchanged for one-tenth (1\/10th) of one &hellip; Continue reading &quot;HL Acquisitions Corp. 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