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Interlapse Announces Shareholder Meeting Date and Details of Subscription Receipt Financing
Interlapse Announces Shareholder Meeting Date and Details of Subscription Receipt Financi...
About this update from Lqwd Technologies Corp
[{"type":"text","content":"\n \n \n \n Interlapse Announces Shareholder Meeting Date and Details of Subscription Receipt Financing\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n OR THROUGH U.S. NEWSWIRES/\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Dec. 14, 2020\n \n /CNW/ - Interlapse Technologies Corp. (TSXV: INLA) (OTCQB: INLAF) (\"\n \n Interlapse\n \n \" or the \"\n \n Company\n \n \") is pleased to announce details of the meeting of shareholders to be held to consider the proposed acquisition of 100% of the issued and outstanding shares of LQwD Financial Corp. (the \"\n \n Transaction\n \n \") as well as additional updates regarding the concurrent financing to be completed in connection therewith (the \"\n \n Concurrent Financing\n \n \").\n \n \n Interlapse has set the annual general and extraordinary meeting of shareholders of Interlapse to take place on\n \n February 8, 2021\n \n , with a record date of\n \n December 22, 2020\n \n . The filing and mailing of the management information circular in respect of the meeting is expected to take place in mid-January. Additional information concerning the Transaction will be contained in the information circular and will be available under the Company's profile at\n \n www.sedar.com\n \n .\n \n \n As disclosed in the Company's news release dated\n \n November 23, 2020\n \n , the Transaction is subject to a number of terms and conditions, including Interlapse shareholder approval and completion of the Concurrent Financing.\n \n \n The Concurrent Financing will consist of a non-brokered private placement offering of a minimum of 12,000,000 subscription receipts (the \"\n \n Subscription Receipts\n \n \") up to a maximum of 20,000,000 Subscription Receipts for minimum gross proceeds of\n \n C$3,000,000\n \n and maximum gross proceeds of\n \n C$5,000,000\n \n . Each Subscription Receipt entitles the holder thereof to receive, upon satisfaction of the escrow release conditions (which will include, among other things, the closing of the Transaction) on or be...