Business
ATH (Australia) Pty Ltd. and Castlecap Capital Inc. Announce Execution of Letter of Intent
(TheNewswire) Calgary, Alberta, Canada – TheNewswire - March 31, 2022 ...
About this update from Castlecap Capital, Inc.
[{"type":"text","content":"ATH (Australia) Pty Ltd. and Castlecap Capital Inc. Announce Execution of Letter of Intent\n \n \n (TheNewswire)\n \n \n \n Calgary, Alberta, Canada –\n \n \n TheNewswire -\n \n \n March 31, 2022 -\n \n \n ATH (Australia) Pty Ltd.\n \n \n (“\n \n \n ATH\n \n \n ”)\n \n \n \n \n and\nCastlecap Capital Inc. (“\n \n \n Castlecap\n \n \n ”)\n \n \n (TSXV:CSTL.P)\n \n \n are\n \n \n pleased to announce that ATH and Castlecap have entered into\na letter of intent dated\n \n \n March 30,\n2022\n \n \n (the “\n \n \n LOI\n \n \n ”)\n \n \n which sets forth, in general terms, the basic terms and\nconditions upon which ATH and\n \n \n Castlecap\n \n \n will combine their business operations resulting\nin a reverse takeover (“\n \n \n RTO\n \n \n ”) of Castlecap by ATH and its\nshareholders.\n \n \n \n \n Pursuant to the terms of the LOI, it is intended that\nATH and\n \n \n Castlecap\n \n \n will\nenter into a business combination by way of an arrangement,\namalgamation, share exchange or other similar structure (collectively,\nthe forgoing with any related transaction, the “\n \n \n Transaction\n \n \n ”) which\nwill result in ATH becoming a wholly owned subsidiary of Castlecap or\notherwise combining its corporate existence with that of Castlecap.\n The final structure of the business combination is subject to\nreceipt by the parties of tax, corporate, and securities law advice\nand will be agreed to pursuant to definitive transaction documents\nexpected to be executed in the short term. The issuer resulting from\nthe Transaction (the “\n \n \n Resulting Issuer\n \n \n ”) will carry on the\nbusiness currently carried on by ATH.\n \n \n Prior to\nthe completion of the Transaction, it is expected that the parties\nwill complete a private placement (the “\n \n \n Concurrent Financing\n \n \n ”).\n \n \n \n \n When a definitive agreement between ATH and Castlecap\nis executed, ATH and Castlecap will issue a subsequent press release\ncontaining the details of the definitive agreement and additional\nterms of the Transaction. Completion of the Transaction and the\nConcurrent Financing is subject to a number of conditions, including\nbut not limited to, receiving all required shareholder, regulatory,\nand other approvals. There can be ...