March 13, 2025 – TheNewswire - Vancouver, British Columbia – Impact Acquisition Corp. (TSXV: IMPC.P) (“Impact”, the “Company” or the “Resulting Issuer”) is pleased to announce that, further to its press releases issued on January 3, 2025, and February 6, 2025, the Company has received the comprehensive valuation report of Evans & Evans, Inc. (“Evans & Evans”) on Fort Products Limited (“Fort”) dated March 6, 2025 (the “Valuation Report”). The receipt of the Valuation Report is a condition precedent under the share purchase agreement entered between the Company, Fort, and Jeffs’ Brands Ltd, the parent company of Fort (“Jeffs Brands”), on February 6, 2025 (the “SPA”), to closing the proposed qualifying transaction of the Company, which will result in the reverse takeover of the Company by Jeffs Brands in exchange for Jeffs Brands transferring all of the issued and outstanding shares in Fort to the Company (the “Proposed Transaction”).

The Valuation Report indicates that, in the opinion of Evans & Evans, the fair market value of Fort as at January 31, 2025, is between C$16,860,000 to C$20,590,000 on a controlling, marketable basis, subject to the assumptions and qualifications specified therein. This valuation exceeds the minimum required valuation in the SPA, being C$14,000,000. Jeffs Brands and Fort are each arm’s length to Evans & Evans. Evans & Evans are the independent business valuators who have prepared the Valuation Report.

The Company considers the receipt of the Valuation Report to be a major milestone in the completion of the Proposed Transaction and the Company continues to work diligently towards the completion of the Proposed Transaction.

About Jeffs Brands

Jeffs’ Brands aims to transform the world of e-commerce by creating and acquiring products and turning them into market leaders, tapping into vast, unrealized growth potential. Through the Company’s management team’s insight into the Fulfillment by Amazon (FBA) business model, it aims to use both human capability and advanced technology to take products to the next level.

Additional information regarding Jeffs Brands can be viewed on its website.

About Fort Products

Fort Products is an established UK Based manufacturer and seller specialising in a range of amateur and professional products for the pest control and remedial repair industry. Fort Products’ experience commenced since it’s establishment in 2005 within the pest control industry and it prides itself on the technical knowledge received in nearly 20 years.

Additional information regarding Fort Products can be viewed on its website.

About Impact

Impact is a capital cool company (“CPC”) within the meaning of the policies of the TSX Venture Exchange (the “Exchange”). Impact was created to identify and evaluate potential acquisitions of commercially viable businesses and assets that have the potential to generate profits and add shareholder value. Except as specifically contemplated in the CPC policy of the Exchange, until the completion of the Proposed Transaction or other “Qualifying Transaction” as defined in the policies of the Exchange, Impact will not carry on business other than identification and evaluation of companies, businesses or assets with a view to completing a proposed qualifying transaction.

For further information, please contact:

Gabi Kabazo
Chief Financial Officer

Impact Acquisition Corp.
Telephone: (604) 833-6820
Email: ir@impactacquisitions.net

Disclaimers

This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to Exchange acceptance, completion of the conditions precedent thereto including any financing requirements, and, if applicable pursuant to the Exchange requirements, majority of the minority shareholder approval. Where applicable, the Proposed Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon.

The TSX Venture Exchange has in no way passed upon the merits of the Proposed Transaction and has not approved or disapproved of the contents of this news release.

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

The common shares of Impact are expected to remain halted until such time as permission to resume trading has been obtained from the Exchange. Impact is a reporting issuer in Alberta and British Columbia.

Cautionary Note Regarding Forward-Looking Information

This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Impact with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: expectations regarding whether the Proposed Transaction will be consummated, whether the remaining conditions precedent to the Proposed Transaction will be completed, including whether conditions to the consummation of the conditions precedent to the Proposed Transaction will be satisfied, or the timing for completing the Proposed Transaction and the conditions precedent to the Proposed Transaction.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflect Impact’s management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Impact believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Resulting Issuer. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to consummate the Proposed Transaction and/or the remaining conditions precedent to the Proposed Transaction; the ability to obtain requisite regulatory and other approvals and the satisfaction of other conditions to the consummation of the Proposed Transaction and/or the conditions precedent to the Proposed Transaction on the proposed terms and schedule; the potential impact of the announcement or consummation of the Proposed Transaction and/or the conditions precedent to the Proposed Transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; the ability of the parties to complete the Proposed Transaction; and the diversion of management time on the Proposed Transaction and/or the conditions precedent to the Proposed Transaction. This forward-looking information may be affected by risks and uncertainties in the business of Impact, Jeffs Brands, Fort Products and market conditions.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Impact has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Impact does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Not for distribution to United States newswire services or for dissemination in the United States