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Metatek-Group Ltd. Completes Initial Public Offering of Common Shares for Total Gross Proceeds to Metatek of C$35.0 million
Metatek-Group Ltd. Completes Initial Public Offering of Common Shares for Total Gross Proceeds to...
About this update from Metatek-group Ltd.
[{"type":"text","content":"\n\n\nMetatek-Group Ltd. Completes Initial Public Offering of Common Shares for Total Gross Proceeds to Metatek of C$35.0 million\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\nCanada NewsWire\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./CALGARY, AB, March 25, 2026 /CNW/ - Metatek-Group Ltd. (\"Metatek\" or the \"Company\") (TSX: MTEK) announced today the closing of its initial public offering (the \"Offering\") of common shares (the \"Common Shares\") at a price of C$5.00 per share (the \"Offering Price\"). The Offering consisted of a treasury offering of 7,000,000 Common Shares, for total gross proceeds to the Company of approximately $35.0 million, and a secondary offering of 1,000,000 Common Shares at the Offering Price, for aggregate gross proceeds of approximately $5.0 million.\n\n\n\n\n\n\n\n\"This IPO comes at a timely moment, as the growing global focus on energy security, critical minerals and supply chain resilience is driving increased demand for our solutions. With this capital, we are well positioned to accelerate our next phase of growth as we expand our global airborne geoscience capabilities and advance a strong pipeline of developments\", said Dr. Mark Davies, Chief Executive Officer of Metatek.The Offering was made through a syndicate of underwriters led by Canaccord Genuity Corp., as sole bookrunner, and including CIBC Capital Markets, Scotiabank, ATB Capital Markets, Roth Canada, Inc., Beacon Securities Limited and Research Capital Corporation (collectively, the \"Underwriters\").PillarFour Capital Fund II LP, PillarFour Capital Parallel Fund II LP and certain of their limited partners (the \"Over-Allotment Selling Shareholders\") have granted the Underwriters an over-allotment option, exercisable in whole or in part from time to time for a period of 30 days following the closing of the Offering, to purchase up to an additional 1,200,000 Common Shares at the Offering Price for additional gross proceeds of up to $6.0 million to the Over-Allotment Selling Shareholders...