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Pelican AI and Christie Capital Announce Launch of Brokered Financing
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES TORON...
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[{"type":"text","content":"Pelican AI and Christie Capital Announce Launch of Brokered Financing\n\n\n\n\n NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES\n \n\n\n TORONTO, Sept. 24, 2025 (GLOBE NEWSWIRE) -- Pelican Canada Inc., doing business as Pelican AI (“\n \n Pelican\n \n ” or the “\n \n Company\n \n ”) and Christie Capital Corp. (“\n \n Christie\n \n ”) are pleased to announce that Pelican is launching a brokered private placement of subscription receipts (each, a “\n \n Subscription Receipt\n \n ”) at a price of C$0.25 per Subscription Receipt for total gross proceeds of up to C$5,000,000 (the “\n \n Offering\n \n ”).\n \n\n Canaccord Genuity Corp. (the “\n \n Lead Agent\n \n ”) is acting as sole lead manager and sole bookrunner in connection with the Offering, together with a syndicate of agents including Research Capital Corporation (“\n \n Research Capital\n \n ” and together with the Lead Agent, the “\n \n Agents\n \n ”).\n \n\n\n\n The Offering\n \n\n\n\n The Offering is being undertaken in anticipation of the business combination transaction that will result in a reverse takeover of Christie by Pelican (the “\n \n Transaction\n \n ”), that was previously announced in a news release by Christie on December 3, 2024. The Transaction will be structured as a three-cornered amalgamation, whereby a wholly-owned subsidiary of Christie formed for such purpose will amalgamate with Pelican (the “\n \n Amalgamation\n \n ”). Christie following the completion of the Transaction is referred to as the “\n \n Resulting Issuer\n \n ”.\n \n\n Completion of the Transaction is subject to a number of conditions, which include, among others, receipt of all necessary board, shareholder and regulatory approvals, including the conditional approval of the listing of the common shares of the Resulting Issuer on the TSX Venture Exchange (“\n \n Exchange\n \n ”). In connection with the Transaction, the Resulting Issuer intends to change its name to “PelicanAI Corp.” or such other name as mutually agreed to by Christie and Pelican and acceptable to the regulators (the “\n \n Name Change\n \n ”).\n \n\n The Lead Agent shall have the option (th...