Business
Aardvark 2 Capital Corp. and Nuvau Minerals Corp. Announce Terms of Private Placement of Subscription Receipts
Toronto, Ontario--(Newsfile Corp. - October 23, 2024) - Aardvark 2 Capital Corp. (TSXV: ACCB.P) (...
About this update from Nuvau Minerals Inc.
[{"type":"text","content":"Aardvark 2 Capital Corp. and Nuvau Minerals Corp. Announce Terms of Private Placement of Subscription ReceiptsToronto, Ontario--(Newsfile Corp. - October 23, 2024) - Aardvark 2 Capital Corp. (TSXV: ACCB.P) (the \"Company\") and Nuvau Minerals Corp. (\"Nuvau\", and together with the Company, the \"Parties\") are pleased to provide an update to the terms of the previously announced brokered private placement (the \"Concurrent Financing\"). The Concurrent Financing will be a best-efforts private placement of subscription receipts by Nuvau (the \"Subscription Receipts\") for gross proceeds of up to $8,010,000, to be completed in connection with the proposed reverse takeover of the Company by Nuvau (the \"Qualifying Transaction\"), which transaction is intended to constitute the Company's \"Qualifying Transaction\" (within the meaning of Policy 2.4 - Capital Pool Companies of the TSX Venture Exchange Corporate Finance Manual). Following the completion of the Qualifying Transaction, the Company, as the issuer resulting therefrom (the \"Resulting Issuer\"), is expected to carry on the current business of Nuvau under the name \"Nuvau Minerals Corp.\" For further details relating to the Concurrent Financing and Qualifying Transaction, please refer to the Company's news releases dated June 17, 2024 and July 29, 2024.Nuvau has entered into an engagement agreement with Ventum Financial Corp. and Eight Capital, as co-lead agents and joint bookrunners, (together, the \"Co-Lead Agents\") on behalf of a syndicate of agents (together with the Co-Lead Agents, the \"Agents\"), in connection with the best-efforts private placement of Subscription Receipts at a price of $0.90 per Subscription Receipt (the \"Offering Price\") for aggregate gross proceeds of up to $8,010,000. As part of the Concurrent Financing, Nuvau has granted the Agents an option (the \"Agents' Option\") to offer up to an additional $1,201,500 in Subscription Receipts, for potential aggregate gross proceeds of up to $9,211,500 under the Concurrent Financing. The Agents' Option may be exercised in whole or in part at any time prior to the closing of the Concurrent Financing. Closing of the Concurrent Financing is expected to occur on or about November 13, 2024.The Subscription Receipts will be created and issued pursuant to the terms of a subscription receipt agreement (the \"Subsc...