Business
Mettrum Health Corp. Announces Closing of Qualifying Transaction and Commencement of Trading
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./ TORO...
About this update from M3 Metals Corp.
[{"type":"text","content":"\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./\n\n\n\nTORONTO, Sept. 30, 2014 /CNW/ - Mettrum Health Corp. (the \"Company\"), formerly Cinaport Acquisition Corp. (CPQ.H: TSX-V), a Capital Pool Company listed on the NEX board of the TSX Venture Exchange (the \"Exchange\"), is pleased to announce that it has closed its qualifying transaction (the \"Transaction\") with Mettrum Ltd. (\"Mettrum\"), a licensed producer under the Marihuana for Medical Purposes Regulations (the \"MMPR\"), pursuant to which the shareholders of Mettrum completed a reverse takeover of the Company. \n\nAs a part of the Transaction, the Company changed its name from \"Cinaport Acquisition Corp.\" to \"Mettrum Health Corp.\" and consolidated its common shares on a 14.5625 to 1 basis.  Following these changes, Mettrum amalgamated with 2434265 Ontario Inc., a wholly-owned subsidiary of the Company formed solely for the purpose of facilitating the Transaction.  Pursuant to the amalgamation, the shareholders of Mettrum received one common share of the Company for each common share of Mettrum registered in the names of such shareholders.  Holders of Mettrum's options and warrants outstanding at the time of closing of the Transaction also received equivalent instruments of the Company exercisable for or convertible into the Company's common shares.  Similarly, non-transferable broker warrants previously issued to the Agents (defined below) in connection with the Private Placement (defined below) became exercisable for a corresponding number of the Company's common shares.  Following closing of the Transaction, the Company has 33,675,077 common shares issued and outstanding.  In addition, an aggregate 15,984,523 common shares of the Company have been reserved for options, warrants and broker warrants outstanding upon completion of the Transaction.\n\nIn connection with the Transaction, Mettrum and the Company have satisfied the escrow release conditions of Mettrum's private placement previously announced on July 29, 2014 (the \"Private Placement\").  The Private Placement, which raised gross proceeds of $34.5 million was completed by a syndicate of agents led by Cormark Securities Inc. and including GMP Securities L.P., Paradigm Capital Inc. and Jacob Securities Inc. (collectively, the \"Agen...