Intuitivo Capital announces letter of intent/private placement
/THIS PRESS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
Pursuant to the letter of intent, it is proposed that the common shares of Intuitivo would be consolidated on a 1 for 36 basis and the holders of Argonaut would receive one post-consolidated share of the Company for each common share of Argonaut. The final structure of the business combination is to be determined after the receipt of final tax, corporate and securities law advice for both parties.
In conjunction with the proposed transaction, Argonaut intends to issue a minimum of Cdn.
Completion of the transaction is subject to the completion of a satisfactory due diligence review by both parties, the execution of a definitive agreement on or before
If completed, the proposed transaction is expected to constitute Intuitivo's Qualifying Transaction as defined in Policy 2.4 of the Exchange and is subject to compliance with all Exchange requirements in this regard. A comprehensive press release with further particulars relating to the proposed transaction will follow in accordance with the policies of the Exchange.
Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and, if applicable pursuant to Exchange requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the 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 transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The Exchange has in no way passed upon the merits of the proposed transaction and has neither approved or disapproved the contents of this press release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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For further information: Mark Wilder, President & CEO, Ph: (416) 928-1800, Intuitivo Capital Corporation, E-mail: [email protected]
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