Business
Skyscape Capital Inc. and PesoRama Inc. Announce Execution of Amalgamation Agreement and Oversubscribed $5.5 Million Convertible Debenture Financing
Toronto, Ontario--(Newsfile Corp. - March 22, 2021) -  Skyscape Capital Inc. (TSXV: SKY.P...
About this update from Skycap Investment Holdings Inc.
[{"type":"text","content":"Skyscape Capital Inc. and PesoRama Inc. Announce Execution of Amalgamation Agreement and Oversubscribed $5.5 Million Convertible Debenture FinancingToronto, Ontario--(Newsfile Corp. - March 22, 2021) -  Skyscape Capital Inc. (TSXV: SKY.P) (the \"Corporation\" or \"Skyscape\") and PesoRama Inc. (\"PesoRama\") are pleased to announce that they have entered into an amalgamation agreement dated March 9, 2021 (\"Amalgamation Agreement\") between the Corporation, PesoRama and 11518003 Canada Corp. (\"Subco\"), a wholly-owned subsidiary of the Corporation, which sets forth the terms and conditions upon which Skyscape will acquire PesoRama by way of reverse takeover (the \"Proposed Transaction\") in accordance with the policies of the TSX Venture Exchange (the \"TSXV\"). Skyscape intends that the Proposed Transaction will constitute its Qualifying Transaction and upon completion of the Proposed Transaction the combined entity (the \"Resulting Issuer\") will continue to carry on the business of PesoRama. Proposed TransactionUnder the terms of the Amalgamation Agreement, the Proposed Transaction will be completed by way of a three cornered amalgamation under the laws of Canada, whereby Subco will merge with and into PesoRama, with PesoRama surviving as a wholly-owned subsidiary of Skyscape. Immediately prior to or concurrently with closing of the Proposed Transaction, Skyscape is expected to change its name to \"PesoRama Inc.\" Following completion of the Proposed Transaction, the Resulting Issuer will hold all of PesoRama's assets and conduct the business of PesoRama under the PesoRama name.As a condition to the completion of the Proposed Transaction, the parties intend to complete financings (the \"Concurrent Financings\") of up to $25 million, consisting of up to $10 million through a subscription receipts financing led by Fundamental Private Markets (\"Fundamental\") of Mexico City and a brokered financing of up to an additional $15 million which will be qualified through a prospectus filed with securities regulators in Canada. It is expected that Concurrent Financings will result in the issuance of the same securities of the Resulting Issuer on the same terms to investors in each of the financings.Completion of the Proposed Transaction will be subject to a number of other conditions including, but not limited to, closing conditi...