Business
PesoRama Inc. and Skyscape Capital Inc. File Final Prospectus and Announce $10 Million Financing and Receipt of TSXV Conditional Approval for Qualifying Transaction
Toronto, Ontario--(Newsfile Corp. - February 1, 2022) - PesoRama Inc. (" PesoRama ") and Skysc...
About this update from Skycap Investment Holdings Inc.
[{"type":"text","content":"PesoRama Inc. and Skyscape Capital Inc. File Final Prospectus and Announce $10 Million Financing and Receipt of TSXV Conditional Approval for Qualifying TransactionToronto, Ontario--(Newsfile Corp. - February 1, 2022) - PesoRama Inc. (\"PesoRama\") and Skyscape Capital Inc. (TSXV: SKY.P) (\"Skyscape\") are pleased to announce today that Skyscape has filed a final prospectus (the \"Prospectus\") with the securities regulatory authorities in Alberta, British Columbia and Ontario in respect of the Qualifying Transaction between Skyscape and PesoRama (the \"Transaction\") and prospectus offering (the \"Offering\") in connection with the Transaction. The Transaction is being completed in accordance with TSX Venture Exchange (\"TSXV\") Policy 2.4 Capital Pool Companies (the \"CPC Policy\"). Skyscape and PesoRama also report that Skyscape has received conditional acceptance from the TSXV for the Transaction, as summarized below and described in detail in the Prospectus.The OfferingPursuant to the Offering and a previously completed private placement of Subscription Receipts (the \"Subscription Receipts\") by PesoRama completed in November, 2021 (the \"Subscription Receipt Placement\"), the companies will receive gross proceeds of up to approximately $10 million. The Offering is for up to 4,700,000 units (the \"Resulting Issuer Units\") of Skyscape at an offering price of $1.00 per Resulting Issuer Unit, for gross proceeds of up to $4,700,000, and the Subscription Receipts Placement was for 5,335,170 Subscription Receipts at an issue price of $1.00 per Subscription Receipt, for gross proceeds of $5,335,170 or up to $10,035,170 in aggregate with the Offering. Each Subscription Receipt is exchangeable for one Resulting Issuer Unit upon completion of the Transaction and the proceeds from the Subscription Receipt Placement are being held in escrow and will be released upon the completion of the Transaction and Offering. Skyscape has also granted to the Agents (as defined below) an over-allotment option to purchase up to an additional 705,000 Resulting Issuer Units on the same terms and conditions, exercisable in whole or in party by the Agents up to 30 days following closing of the Offering. Each Resulting Issuer Unit is comprised of one Skyscape common share (a \"Resulting Issuer Common Share\") and one share purchase warrant (a \"Resultin...