Business
Navion Announces Closing of 2nd Tranche of Subscription Receipt Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Noa Lithium Brines Inc
[{"type":"text","content":"Navion Announces Closing of 2nd Tranche of Subscription Receipt FinancingNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESCALGARY, AB / ACCESSWIRE / February 17, 2023 / Navion Capital Inc. (TSX.V:NAVN.P) (the \"Company\" or \"Navion\"), a capital pool company listed on the TSX Venture Exchange (the \"TSXV\"), is pleased to provide an update, further to its press release dated January 25, 2023, regarding the subscription receipt financing disclosed therein and its qualifying transaction with NOA Lithium Brines S.A. (\"NOA\"), with regard to the acquisition by the Company of all of the issued and outstanding securities of NOA and the reverse take over of Navion by NOA (the \"Transaction\").The Transaction is intended to constitute the Company's qualifying transaction (the \"Qualifying Transaction\") pursuant to Policy 2.4 - Capital Pool Companies (\"Policy 2.4\") of the TSXV Corporate Finance Manual (the \"TSXV Manual\"). The Transaction is subject to condition precedents in the share exchange agreement that was entered into on August 4, 2022 and amended November 15, 2022 (the \"Definitive Agreement\"), approval of the TSXV and other closing conditions customary for a transaction of this nature. The resulting issuer of the Transaction will carry on the business of NOA (\"Resulting Issuer\") and it is anticipated that the common shares of the Resulting Issuer (the \"Resulting Issuer Shares\") will be listed for trading on the TSXV.2nd Tranche Navion Listing Subscription Receipt FinancingNavion is pleased to announce that it has closed the 2nd tranche of its a non-brokered private placement of 8,311,403 subscription receipts (the \"Navion Listing Subscription Receipts\") at a price of CDN $0.30 per Navion Listing Subscription Receipt, for gross proceeds of $2,493,420, with $132,049 to be paid in cash and to be provided to Rubén Jabib and Tomas De Pablos on the date of the conversion of the Navion Listing Subscription Receipts, as finder's fees in connection with this financing, and this financing and the said finder's fees are subject to TSXV approval. Each Navion Listing Subscription Receipt is comprised of one Navion share and one Navion share purchase warrant (the \"Navion ListingSubscription Receipt Warrant\"), with each Navion Listing Subscription Receipt Warrant being exerci...