Business
Leaf Announces Closing of $23 million Public Offering of Subscription Receipts
Leaf Announces Closing of $23 million Public Offering of Subscription Receipts ...
About this update from East Side Games Group Inc
[{"type":"text","content":"\n \n \n \n Leaf Announces Closing of $23 million Public Offering of Subscription Receipts\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Feb. 4, 2021\n \n /CNW/ - LEAF Mobile Inc. (TSXV: LEAF) (\"\n \n LEAF\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has completed its public offering of subscription receipts (the \"\n \n Subscription Receipts\n \n \") for aggregate gross proceeds of\n \n $23 million\n \n including the full exercise of the over-allotment option by the Co-Lead Agents (as defined below) (the \"\n \n Offering\n \n \"), previously announced on\n \n November 11, 2020\n \n and\n \n January 25\n \n , 2021.  The Offering was qualified by LEAF's final short form prospectus dated\n \n January 22, 2021\n \n (the \"\n \n Prospectus\n \n \"), available under its SEDAR profile online at\n \n www.sedar.com\n \n .\n \n \n \n \n \n \n \n \n \n The Offering was completed through a syndicate of agents including Eight Capital and Haywood Securities Inc. as co-lead agents (collectively the \"\n \n Co-Lead Agents\n \n \"), Paradigm Capital Inc. and Scotia Capital Inc. on a best-efforts basis.\n \n \n The Subscription Receipts are governed by a subscription receipt agreement (the \"\n \n Subscription Receipt Agreement\n \n \") entered into among LEAF, the Co-Lead Agents (on behalf of the Agents) and Odyssey Trust Company.  Each Subscription Receipt will entitle the holder thereof to receive, upon satisfaction of certain release and issuance conditions as described in the Prospectus, one common share of LEAF (a \"\n \n LEAF Share\n \n \").  Proceeds from the Offering were deposited into escrow with Odyssey Trust Company, as escrow agent, under the Subscription Receipt Agreement, and will not be released until aforementioned release and issuance conditions are satisfied.\n \n \n LEAF intends to use the net proceeds of the Offering primarily to fund the cash consideration payable under the previously announced acquisition by the Company of East Side Games Inc. (t...