Sayward Capital Corp. Announces Financing Update for Qualifying Transaction

About this update from Sayward Capital Corp.

[{"type":"text","content":"Sayward Capital Corp. Announces Financing Update for Qualifying TransactionCalgary, Alberta--(Newsfile Corp. - November 24, 2021) - Sayward Capital Corp. (TSXV: SAWC.P) (\"Sayward\") is pleased to announce that, in connection with its previously announced qualifying transaction (the \"Qualifying Transaction\") with Field Safe Solutions Inc. (\"Field Safe\"), Field Safe has launched a brokered private placement (the \"Field Safe Private Placement\") led by Echelon Capital Markets and Cormark Securities Inc. (the \"Lead Agents\"), as lead agents, on behalf of a syndicate of agents including Haywood Securities Inc., Hampton Securities Ltd. and Fort Capital Partners Ltd. (collectively with the Lead Agents, the \"Agents\"), of subscription receipts of Field Safe (the \"Field Safe Subscription Receipts\") for gross proceeds of approximately $10,000,000. The Field Safe Subscription Receipts will be issued at a price between $7.25 and $8.00 per Field Safe Subscription Receipt, to be determined in the context of the market. Field Safe has granted the Agents an option to sell such number of additional Field Safe Subscription Receipts as is equal to 15% of the number of Field Safe Subscription Receipts issuable under the Field Safe Private Placement, which option is exercisable, in whole or in part, at any time up to 48 hours prior to the closing date of the Field Safe Private Placement. The Field Safe Subscription Receipts will be created and issued pursuant to the terms of a subscription receipt agreement (the \"Subscription Receipt Agreement\") to be entered into between Odyssey Trust Company, as subscription receipt agent (the \"Subscription Receipt Agent\"), Field Safe, Sayward and the Lead Agents, on their own behalf and on behalf of the Agents. Each Field Safe Subscription Receipt will be automatically converted, without payment of additional consideration or further action by the holder thereof, into one Class A Common share in the capital of Field Safe, subject to adjustment in certain events, immediately before the completion of the Qualifying Transaction and upon the satisfaction or waiver of certain Escrow Release Conditions (as defined in the Subscription Receipt Agreement) at or before 5:00 p.m. (Calgary time) on the date that is 120 days following the closing date of the Field Safe Private Placement. In consideration for the...

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