Business
Creation Capital Announces Commencement of Financing and Expansion of Greenlane Business
Creation Capital Announces Commencement of Financing and Expansion of Greenlane Business ...
About this update from Greenlane Renewables Inc.
[{"type":"text","content":"\n\n\n\nCreation Capital Announces Commencement of Financing and Expansion of Greenlane Business\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.prntac{\nTEXT-ALIGN: CENTER\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, April 17, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./\nTSX-V: CRN.P\n VANCOUVER, April 17, 2019 /CNW/ - Creation Capital Corp. (TSX-V: CRN.P) (\"Creation Capital\" or the \"Company\"), a capital pool company listed on the TSX Venture Exchange (the \"Exchange\"), today announced that it has retained Beacon Securities Limited (\"Beacon\") to lead its previously announced offering of subscription receipts (the \"Subscription Receipts\") at a price of $0.20 per Subscription Receipt for minimum gross proceeds of $6 million (the \"Offering\") to enable it to close its previously announced Qualifying Transaction (the \"Proposed QT\").  If required, Beacon will also act as Creation Capital's sponsor in connection with the Proposed QT.\nOn closing of the Offering, the gross proceeds will be placed in escrow with a subscription receipt agent.  Upon satisfaction of the escrow release conditions, which includes completion of the acquisition of Greenlane (as defined below), each Subscription Receipt will be deemed to be exercised for one special warrant (a \"Special Warrant\") of the Company, each entitling the holder thereof to receive one common share (a \"Common Share\") and one half of one (0.5) common share purchase warrant (a \"Warrant\").  Each full Warrant will be exercisable for one Common Share at a price of $0.26 for a period of two years from the completion of the Proposed QT.\nUpon completion of the Proposed QT, Creation Capital will use commercially reasonable efforts to file a prospectus to qualify the issuance of Common Shares upon conversion of the Special Warrants.  The prospectus is expected to be effective within 60 days from the completion of the...