New York, NY — HL Acquisitions Corp. (“HL”, NASDAQ: HCCH, HCCHU, HCCHR, HCCHW) announced today that it has mailed a proxy statement for a shareholder meeting to be held on October 2nd, 2020 at which time shareholders will be asked to approve an extension of the time it has to complete an initial business combination from October 2nd, 2020 to January 2nd, 2021.
Commenting on the extension proposal, Jeffrey Schwarz, HL’s CEO said, “While we are disappointed that we will be unable to close our business combination with Fusion Fuel prior to October 2nd, we are pleased with the progress that has been made on the deal front. We recently received comments from the Securities and Exchange Commission on the proxy/registration statement that was filed on August 12th, and intend to refile the proxy/registration statement responding to such comments as quickly as possible. We hope to be able to schedule a shareholder vote for the transaction and close by the end of October.”
Mr. Schwarz continued, “the Portuguese Renewable Gases Legislation, which establishes the legal framework for the regulation, distribution, and consumption of hydrogen in Portugal, was approved and published on August 28th. We believe this law represents a crucial milestone in Portugal’s decarbonization strategy, and will pave the way for the development of a robust green hydrogen industry. We, alongside our future partners at Fusion Fuel Green, look forward to playing a leading role in that process, both within Portugal and in markets around the world.”