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Target Capital Inc. Announces Recapitalization Financing and New Management Team and Board of Directors
Target Capital Inc. Announces Recapitalization Financing and New Management Team and Board...
About this update from Westgate Energy Inc
[{"type":"text","content":"\n\n\n\nTarget Capital Inc. Announces Recapitalization Financing and New Management Team and Board of Directors\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnbcc{\nBORDER-BOTTOM:0pt solid; BORDER-LEFT:0pt solid; BORDER-COLLAPSE: COLLAPSE; BORDER-TOP:0pt solid; BORDER-RIGHT:0pt solid\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Nov. 21, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./\n\n\n\nCALGARY, Nov. 21, 2017 /CNW Telbec/ - Target Capital Inc. (\"Target\" or the \"Corporation\") (TSXV: TCI) and (CSE: TCI) is pleased to announce that it has entered into a definitive reorganization and investment agreement (the \"Agreement\") with Sonny Mottahed, Bill Macdonald and David Cheadle (the \"Initial Investor Group\") which provides for: (i) a non-brokered private placement of up to an aggregate of $5.0 million (the \"Private Placement\"); (ii) the appointment of a new management team (the \"New Management Team\") and board of directors; and (iii) a rights offering (the \"Rights Offering\") to holders of common shares (\"Common Shares\") of Target (collectively, the \"Transaction\").  Completion of the Transaction is subject to customary closing conditions, including the approval of the TSX Venture Exchange (the \"TSXV\") and the Canadian Securities Exchange (the \"CSE\").  Upon completion of the Transaction, it is anticipated that the shareholders of Target will be asked to approve, at a special meeting called for such purpose, a change of the Corporation's name to \"CBi2 Capital Corp.\".\n\nThe New Management Team will be led by Sonny Mottahed as President & Chief Executive Officer, Bill Macdonald as Executive Vice President – Corporate Development and David Cheadle as Chief Fin...