Business
P Squared Renewables Inc. Announces the Completion of Qualifying Transaction and the Prior Closing of $6 Million Subscription Receipt Financing
(TheNewswire) September 3 , 2021 – TheNewswire - Calga...
About this update from Universal Ibogaine Inc
[{"type":"text","content":"P Squared Renewables Inc. Announces the Completion of Qualifying Transaction and the Prior Closing of $6 Million Subscription Receipt Financing\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n September\n \n \n 3\n \n \n , 2021 –\n \n \n TheNewswire -\n \n \n Calgary, Alberta - P Squared Renewables Inc. (TSXV:PSQ.P)\n(\"\n \n \n PSQ\n \n \n \") is pleased to announce completion of PSQ’s\nQualifying Transaction, as such term is defined under Policy 2.3 of\nthe Corporate Finance Manual of the TSX Venture Exchange (the\n“\n \n \n Transaction\n \n \n ”).\n \n \n \n \n The three main components of the Transaction involved\nthe closing of a $6 million concurrent financing (the\n\"\n \n \n Offering\n \n \n \"), the acquisition of the Kelburn Clinic, and the\nAmalgamation of PSQ and UI.\n \n \n \n \n The closing of the Transaction and the Offering remains\nsubject to the completion of filings with the TSX Venture Exchange\n(“\n \n \n TSXV\n \n \n ”) and final approval thereof.\n \n \n \n \n Amalgamation of PSQ and UI\n \n \n \n \n Pursuant to the Transaction, on August 31, 2021, PSQ\ncompleted\n \n \n a three-cornered amalgamation (the\n\"\n \n \n Amalgamation\n \n \n \") among PSQ, 1266855 B.C. Ltd. (\"\n \n \n Subco\n \n \n \", a wholly\nowned subsidiary of PSQ), and Universal Ibogaine Inc.\n(\"\n \n \n UI\n \n \n \").\n \n \n \n \n The continuing entity, (the “\n \n \n Resulting Issuer\n \n \n ”)\nshall complete a formal name change to “Universal Ibogaine Inc.”\nor such other name as determined by UI and PSQ.  The Resulting Issuer\nshall carry on the business of UI as the continuing entity under the\nAmalgamation.\n \n \n \n \n Pursuant to the terms and conditions set ‎forth in\nthe amalgamation agreement dated October 7, 2020 and amended August\n23, 2021 (the “\n \n \n Amalgamation\nAgreement\n \n \n ”), the holders of the securities of\nUI (including common shares, share purchase warrants, and stock\noptions) ‎will receive equivalent securities of PSQ / the Resulting\nIssuer on a one-for-one basis.\n \n \n \n \n Closing of $6 million Concurrent\nFinancing (the “Offering”)\n \n \n \n \n PSQ also announces the closing of a fully subscribed\nnon-brokered private placement (as  previously announced - see news\nreleas...