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PesoRama Inc. Announces Concurrent Closing of Prospectus Offering and Qualifying Transaction, and Receipt of $10 Million of Financing Proceeds
Toronto, Ontario--(Newsfile Corp. - February 8, 2022) - PesoRama Inc. (" PesoRama " or the " C...
About this update from Skycap Investment Holdings Inc.
[{"type":"text","content":"PesoRama Inc. Announces Concurrent Closing of Prospectus Offering and Qualifying Transaction, and Receipt of $10 Million of Financing ProceedsToronto, Ontario--(Newsfile Corp. - February 8, 2022) - PesoRama Inc. (\"PesoRama\" or the \"Corporation\") (formerly Skyscape Capital Inc.) (TSXV: SKY.P) is pleased to announce the completion of its public offering (the \"Offering\"), by way of prospectus (the \"Prospectus\") dated January 31, 2022, of 4,700,000 units (the \"Units\") for aggregate gross proceeds of $4,700,000. The Corporation also announces the closing of its previously announced \"Qualifying Transaction\" (the \"Qualifying Transaction\"), as such term is defined in the policies of the TSX Venture Exchange (the \"TSXV\"), involving the amalgamation of PesoRama Inc. (\"Old PesoRama\") and the Corporation's wholly owned subsidiary, 11518003 Canada Inc., (\"Subco\"), to form a new corporation, PesoRama Holdings Inc. (\"Amalco\"), as well as the change of the Corporation's name to PesoRama Inc. (the \"Name Change\"), all effective February 8, 2022.The Corporation will be filing final submissions with the TSXV in connection with the completion of the Qualifying Transaction. Upon receiving final approval from the TSXV, it is expected that the Corporation will be a Tier 2 Industrial Issuer and will trade under the symbol \"PESO\". The Corporation intends to issue a subsequent news release once the common shares of the Corporation (\"Common Shares\") are reinstated for trading on the TSXV.Concurrent OfferingsThe Offering was made by the Corporation through a syndicate of agents (collectively, the \"Agents\") led by Canaccord Genuity Corp. and including Cormark Securities Inc. and Richardson Wealth Limited, in combination with a non-brokered private placement offering of subscription receipts completed by Old PesoRama on November 19, 2021, to raise aggregate gross proceeds from such financings of $10,035,170 in furtherance of the Qualifying Transaction. Pursuant to the subscription receipt financing, Old PesoRama issued and sold 5,335,170 subscription receipts for aggregate gross proceeds of $5,335,170, which were converted into 5,335,170 Units on closing of the Qualifying Transaction. In connection with the Offering, the Corporation, Old PesoRama and the Agents entered into an agency agreement (the \"Agency Agreement\") dated Jan...