VM Hotel Acquisition Corp. Completes IPO on TSX

Goodmans LLP represented VM Hotel Acquisition Corp. (“VMH”) in connection with its initial public offering of 10,000,000 Class A Restricted Voting Units offered at a price of U.S.$10.00 per unit for total gross proceeds of U.S.$100,000,000.

The proceeds from the distribution of the Class A Restricted Voting Units were deposited into an escrow account and will be released upon certain prescribed conditions, as further described in the final prospectus dated February 23, 2021.

VMH is a newly organized special purpose acquisition corporation formed for the purpose of effecting an acquisition of one or more businesses or assets within a specified period of time (a “Qualifying Acquisition”). VMH intends to acquire U.S.A or Canadian-located hotel or resort properties as its Qualifying Acquisition as part of its strategic objective to aggregate a North American portfolio of high quality hotel and resort properties and/or related assets and/or businesses; however, it is not limited to a particular industry or geographic region for purposes of completing its Qualifying Transaction.