Constellation Capital Corp terminates Active Witness Corp acquisition
News provided byConstellation Capital Corp · 1 min read
Constellation Capital Corp. has announced the termination of its proposed acquisition of Active Witness Corp., effective September 1, 2026. The move comes after Constellation Capital Corp. (TSX-V: CNST.P), a Capital Pool Corporation under the policies of the TSX Venture Exchange, decided to halt its plans for the acquisition.
In a statement, Dayton Marks, Chief Executive Officer and Director of Constellation, said, "After careful consideration, we have determined that the proposed acquisition of Active Witness Corp. is not in the best interest of our shareholders at this time. We will continue to explore alternative acquisition opportunities to fulfill our Qualifying Transaction requirements."
Constellation's decision to terminate the acquisition marks a strategic pivot in its business plan. The company, which is currently on hold due to regulatory requirements, will now focus on identifying and pursuing new opportunities that align with its objectives.
Trading of Constellation's shares on the TSX Venture Exchange was halted as part of the regulatory process and remains suspended until the conditions for resuming trading are met. Marks added, "While we are disappointed with this development, we remain committed to driving value for our shareholders through careful and deliberate acquisition strategies."
Constellation Capital Corp. continues to operate under the policies of the TSX Venture Exchange, which mandates that the company meet specific conditions before trading can resume. These conditions are being addressed internally, and Constellation is working diligently to ensure compliance.
The termination of the proposed acquisition with Active Witness Corp. does not affect Constellation's long-term strategy or commitment to growing its business through strategic acquisitions. Marks concluded, "We are confident that our focus on identifying and executing the right acquisition will ultimately benefit our shareholders."
Constellation Capital Corp. will continue to assess and review potential acquisition opportunities to ensure the best possible outcomes for its shareholders.