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Knowlton Capital signs letter of intent for reverse take-over with Leni Gas Cuba Limited
Knowlton Capital signs letter of intent for reverse take-over with Leni Gas Cuba Limited ...
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[{"type":"text","content":"\n\n\n\nKnowlton Capital signs letter of intent for reverse take-over with Leni Gas Cuba Limited\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\nKnowlton Capital signs letter of intent for reverse take-over with Leni Gas Cuba Limited\nCanada NewsWire\nMONTREAL, April 29, 2016\n\n\n\nMONTREAL, April 29, 2016 /CNW Telbec/ - Knowlton Capital Inc. (\"Knowlton\") (TSXV: KWC.H) is pleased to announce that it has entered into a letter of intent dated April 28, 2016 with Leni Gas Cuba Limited (\"LGC\") for a reverse take-over of Knowlton by LGC (the \"Reverse Take-over\").  LGC was incorporated under the laws of the British Virgin Islands on March 3, 2015 as an investment vehicle for the purpose of making investments and/or acquisitions in Cuba.  LGC's corporate office is in London, England and it has been listed since November 2015 on the ISDX Growth Market under the stock symbol ISDX:CUBA.\n\nIt is anticipated that the Reverse Take-over will proceed by way of a share exchange and a \"change of business\" of Knowlton to an investment company, with the corporate name of the resulting public entity (the \"Resulting Issuer\") being changed to reflect the Reverse Take-over. The Reverse Take-over, if and when it proceeds, will result in the shareholders of LGC holding a majority of the outstanding common shares of the Resulting Issuer.\n\nSpecifically, the letter of intent contemplates that Knowlton will consolidate its 46,575,500 issued and outstanding common shares on the basis of 0.7825 common shares for every common share issued and outstanding (the \"Knowlton Share Consolidation\"), so that after the Knowlton Share Consolidation, 36,445,328 Knowlton shares will be issued and outstanding, and that after the Knowlton Share Consolidation, Knowlton will issue an aggregate of 197,600,000 common shares to the shareholders of LGC in exchange for their shares of LGC, on the basis of one Knowlton share for every 2.5 shares of LGC.  As a result, at the closing of the Reverse Take-over, the Resulting Issuer will own 100% of the s...