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Ironhorse Oil & Gas Inc. and Pond Technologies Inc. announce amendment to financing terms in connection with previously announced business combination transaction
Ironhorse Oil & Gas Inc. and Pond Technologies Inc. announce amendment to financing te...
About this update from Pond Technologies Holdings Inc.
[{"type":"text","content":"\n\n\n\nIronhorse Oil & Gas Inc. and Pond Technologies Inc. announce amendment to financing terms in connection with previously announced business combination transaction\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\nIronhorse Oil & Gas Inc. and Pond Technologies Inc. announce amendment to financing terms in connection with previously announced business combination transaction\nCanada NewsWire\nCALGARY, Dec. 5, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./\n\n\n\nCALGARY, Dec. 5, 2017 /CNW/ - Ironhorse Oil & Gas Inc. (TSX-V:IOG) (\"Ironhorse\") and Pond Technologies Inc. (\"Pond\") jointly announce an amendment to the brokered private placement financing of Pond (the \"Financing\") to be completed as a condition to closing the previously announced business combination of Ironhorse and Pond by way of a \"three-cornered amalgamation\" (the \"Transaction\"). \n\nFinancing\n\nConcurrently with and as a condition of the Transaction, Pond will complete a brokered private placement (the \"Financing\") of a minimum of 2,708,333 subscription receipts (\"Subscription Receipts\") and a maximum of 4,166,666 Subscription Receipts at a price of $2.40 per Subscription Receipt for aggregate gross proceeds of a minimum of $6,500,000 and a maximum of $10,000,000 (subject to the exercise, if any, of an over-allotment option granted to the Agents (as defined below) to issue and sell up to an additional 15% of the aggregate number of Subscription Receipts sold under the Financing, which, if exercised, would result in the issuance of a maximum of up to 4,791,666 Subscription Receipts for aggregate gross proceeds of up to $11,500,000).\n\nEach Subscription Receipt will be now be automatically exchangeable for, without additional payment or further action on the part of the holder thereof, into: (a) one Pond common share (a \"Pond Share\"); and (b) one Pond Share purchase warrant (a \"Pond Warrant...