Business
Spirit Banner II Capital Corp. Announces Receipt of TSXV Conditional Approval and Filing of Filing Statement
Toronto, Ontario--(Newsfile Corp. - November 16, 2021) - Spirit Banner II Capital Corp. (TSXV:...
About this update from Sabio Holdings, Inc.
[{"type":"text","content":"Spirit Banner II Capital Corp. Announces Receipt of TSXV Conditional Approval and Filing of Filing StatementToronto, Ontario--(Newsfile Corp. - November 16, 2021) - Spirit Banner II Capital Corp. (TSXV: SBTC.P) (\"Spirit Banner\" or the \"Corporation\") is pleased to announce that the TSXV Venture Exchange (the \"Exchange\" or the \"TSXV\") has conditionally approved the previously announced proposed business combination with Sabio Mobile, Inc. (\"Sabio\") by way of an arm's length reverse-takeover transaction of Sabio by Spirit Banner (the \"Proposed Transaction\"), which will constitute Spirit Banner's Qualifying Transaction (as such term is defined in Policy 2.4 - Capital Pool Companies of Corporate Finance Manual of the Exchange). The Corporation is also pleased to provide an update on the closing of the second tranche of the previously announced private placement of subscription receipts (the \"Subscription Receipts\") by Sabio Canada Finco, Inc. (\"Finco\"), a wholly owned subsidiary of Sabio (the \"Concurrent Financing\").In connection with the Proposed Transaction, the Corporation has filed its filing statement dated November 12, 2021 (the \"Filing Statement\") on the Corporation's SEDAR profile. Investors are encouraged to review the Filing Statement on the Corporation's SEDAR profile at www.sedar.com, as well as the press releases of the Corporation dated June 29, 2021, October 6, 2021, and October 15, 2021. The Filing Statement provides detailed information about, among other things, the Proposed Transaction, Sabio, and the resulting company following completion of the Proposed Transaction (the \"Resulting Issuer\").Assuming all conditions are satisfied, the Corporation and Sabio anticipate closing of the Proposed Transaction to occur on or around November 19, 2021, and that trading of the Resulting Issuer's common shares will commence shortly thereafter. The Corporation will issue a further press release once the Exchange issues its bulletin announcing its final approval of the Proposed Transaction and the date that trading of the common shares of the Resulting Issuer is expected to commence on the Exchange. The Resulting Issuer's trading symbol will be \"SBIO.\"In connection with the Proposed Transaction, the Corporation will change its name to \"Sabio Holdings Inc.\" and will consolidate its outstanding share capit...