Following completion of the Transaction, the securityholders of Bazinga (including those investors in the Financing) will hold a significant majority of the outstanding post-Consolidation common shares of the Company. In accordance with the terms of the Transaction, it is contemplated that: (i) the Company will consolidate (the " Consolidation") its common share capital at a consolidation ratio to be announced in a subsequent news release and (ii) the holders of common shares of Bazinga (including those investors in the Financing) will receive one post-Consolidation common share of the Company in exchange for each outstanding common share of Bazinga. Immediately prior to completion of the Transaction, the Receipts will automatically be converted into common shares of Bazinga, which will then be exchanged for common shares of the Company. Proceeds of the Financing will be held in escrow pending completion of the Transaction. In addition, Bazinga has granted Stifel GMP an option, exercisable in whole or in part, to increase the size of the Financing by up to $2,250,000 for total gross proceeds of $17,250,000. (" Stifel GMP"), through the offering of up to 3,000,000 subscription receipts (each, a " Receipt") at a price of $5.00 per Receipt for gross proceeds of up to $15,000,000. In connection with completion of the Transaction, Bazinga intends to complete a brokered private placement financing (the " Financing"), led by Stifel Nicolaus Canada Inc. Following completion of the Transaction, it is anticipated that the Company will be listed on the Exchange as a Tier 2 Technology Issuer under the name "Tribe Property Technologies Inc." The Transaction constitutes a "Qualifying Transaction" for the Company under TSX Venture Exchange (the " Exchange") Policy 2.4 - Capital Pool Companies. In accordance with the terms of the Letter of Intent, it is anticipated that the Company will establish a wholly-owned subsidiary which will amalgamate with Bazinga (the " Transaction"), following which the resulting amalgamated entity will continue as a wholly-owned subsidiary of the Company. With aspirations to expand the reach of their solutions and offer holistic end-to-end community living solutions, Bazinga is changing the way people view community living, interact with their neighbours and interface with their homes. Bazinga empowers condo developers and strata/HOA communities in Canada and the United States, providing digital services to almost 100,000 homes. Headquartered in Vancouver, Canada and incorporated on December 14, 2011, Bazinga has built a brand that focuses on building communities through communication, transparency and access. Its unique hybrid service-technology delivery model that combines a technology platform to do the "heavy lifting" along with customer-first operations, is the first of its kind in the industry. Bazinga is a pioneer in multi-family residential software solutions and is one of the fastest-growing property management company in Canada. (TSXV: CHSC.P) (the " Company") is pleased to announce that it has entered into a letter of intent (the " Letter of Intent"), dated October 28, 2020, with Bazinga Technologies Inc. October 30, 2020) - Cherry Street Capital Inc.
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