Business
Meraki Acquisition One, Inc. Provides Update on Proposed Qualifying Transaction with Vaultex Pte. Ltd.
(TheNewswire) VANCOUVER, BC – TheNewswire - June 20, 2022 – ...
About this update from Meraki Acquisition One, Inc.
[{"type":"text","content":"Meraki Acquisition One, Inc. Provides Update on Proposed Qualifying Transaction with Vaultex Pte. Ltd.\n \n \n (TheNewswire)\n \n \n \n VANCOUVER, BC –\n \n \n TheNewswire -\n \n \n June 20, 2022 –\n \n \n Meraki Acquisition One, Inc.\n \n (TSXV:MRKI.P) (the “\n \n Company\n \n ”) is pleased to provide an update with respect to\nits proposed qualifying transaction (the “\n \n Transaction\n \n ”) with Vaultex Pte.\nLtd. (“\n \n Vaultex\n \n ”) as\nannounced in the Company’s news release dated April 8, 2022.\n Pursuant to the non-binding terms of a letter of intent (the\n“\n \n LOI\n \n ”) setting out the\nTransaction, the Company will acquire Vaultex through an arm’s\nlength reverse takeover acquisition.  A binding commitment with\nrespect to the matters referenced in the LOI will result only from the\nexecution and delivery of a definitive agreement (the “\n \n Definitive Agreement\n \n ”) and other\nTransaction documents.\n \n \n Meraki announces that it and Vaultex are continuing discussions and\nprogressing towards finalizing a transaction structure to be set out\nin the Definitive Agreement.  In the meantime, Vaultex has completed\na portion of its pre-listing financing and raised CAN$1 million in\ngross proceeds and is working towards completing the balance of its\npre-listing financing to raise up to approximately CAN$500,000.  As\nannounced in the Company’s news release dated April 8, 2022, prior\nto the completion of the Transaction and in addition to a concurrent\nfinancing by the Company, Vaultex intends to complete a pre-listing\nfinancing of units at a price of CAN$0.21 per unit for gross proceeds\nof approximately CAN$1,500,000, with each unit consisting of one\nVaultex common share and one warrant, with each warrant entitling the\nholder to acquire one additional Vaultex common share at a price of\nCAN$0.30 per Vaultex common share for a period of 24 months from the\ndate of issuance.  It is expected that such Vaultex securities will\nbe exchanged for or otherwise converted into equivalent Resulting\nIssuer securities under the Transaction to be set out in the\nDefinitive Agreement.\n \n \n Trading of the Company’s listed shares on the TSX Venture Exchange\n(the “\n \n Exch...