Business
Rider Investment Capital Corp. Announces Qualifying Transaction Update and Corporate Update
Calgary, Alberta--(Newsfile Corp. - May 29, 2020) - Rider Investment Capital Corp. (TSXV: RDR....
About this update from Geiger Energy Corporation
[{"type":"text","content":"Rider Investment Capital Corp. Announces Qualifying Transaction Update and Corporate UpdateCalgary, Alberta--(Newsfile Corp. - May 29, 2020) - Rider Investment Capital Corp. (TSXV: RDR.P) (the \"Corporation\" or \"Rider\"), is pleased to provide the following updates in connections with its upcoming shareholding meeting and the Qualifying Transaction announced in the news release dated February 25, 2020.Update on Qualifying Transaction and Concurrent FinancingRider previously announced the that it has entered into a Letter of Intent dated February 11, 2020 to purchase the Mann Silver-Cobalt Mine from PowerOre Inc. (TSXV: PORE), a copper-focused exploration company listed on the TSX Venture Exchange. The Corporation is in the filing process with the TSX Venture Exchange and expects to receive conditional approval and to post its Filing Statement in connection with the transaction in the next few business days. Closing is expected to occur promptly thereafter.For further particulars in connection with the proposed Qualifying Transaction see the news release dated February 25, 2020.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 TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.Filing of Q1 DelayedThe Corporation also announces that due to the continuing logistics and delays caused by the COVID-19 virus, it will rely on the exemption provided in Blanket Order 51-519 - Temporary Exemption from Certain Corporate Finance ‎‎‎Requirements of the Alberta Securities Comm...