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Predator Blockchain Capital Corp. Announces Execution of Amalgamation Agreement with the Highwood Oil Company Ltd.
Predator Blockchain Capital Corp. Announces Execution of Amalgamation Agreement with the H...
About this update from Highwood Asset Management Ltd
[{"type":"text","content":"\n\n\n\nPredator Blockchain Capital Corp. Announces Execution of Amalgamation Agreement with the Highwood Oil Company Ltd.\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\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Dec. 28, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n CALGARY, Dec. 28, 2018 /CNW/ - Predator Blockchain Capital Corp. (the \"Predator\") (TSXV:PRED.P), a capital pool company under Policy 2.4 of the TSX Venture Exchange (the \"Exchange\"), is pleased to announce that, further to Predator's press release issued on November 9, 2018, Predator and Highwood Oil Company Ltd. (\"Highwood\") have entered into an Amalgamation Agreement (the \"Agreement\") for the purposes of completing a Qualifying Transaction. It is anticipated that upon completion of the Qualifying Transaction, the resulting issuer will meet the Tier 2 listing requirements of the Exchange for an oil and gas issuer. \nTerms of the Qualifying Transaction\nThe terms of the Agreement provide that prior to implementation of a statutory amalgamation between Predator and Highwood under the Business Corporations Act (Alberta), Predator will complete a consolidation of its 10,000,000 outstanding common shares at a ratio of approximately 1:53 and the issuance of approximately 5,753,004 post-consolidation common shares to Highwood shareholders at a deemed value of $9.00 per share, which implies an entity value for Highwood of approximately $51,777,036. Highwood currently has 5,744,204 common shares outstanding and prior to completion of the Qualifying Transaction, Highwood anticipates issuing approximately an additional 8,800 common shares at an issuance price of $9.00 per share under a prospectus exempt private placement. Accordingly, it is expected that the resulting issuer will have approximately 5,941,683 post consolidation common shares issued and outstanding on a non-diluted basis.  \nClosing of the Qualifying Transaction is subject to a number of conditions, including: (a) approval of the share consolidation and the remaining ...