Zidane Announces Closing of $200,000 Private Placement

About this update from Zidane Capital Corp.

[{"type":"text","content":"Zidane Announces Closing of $200,000 Private Placement\n \n \n (TheNewswire)\n \n \n \n November 12, 2020 -\n \n \n TheNewswire -\n \n \n Vancouver, British Columbia -\n \n \n Zidane Capital Corp. (\n \n \n TSXV\n \n \n :ZZE.H) (\"\n \n \n Zidane\n \n \n \"), a capital pool company pursuant\nto TSX Venture Exchange Policy 2.4 - Capital Pool Companies (the\n\"\n \n \n CPC Policy\n \n \n \"), is pleased to announce the closing of the\nnon-brokered private placement of 4,000,000 common shares (the\n\"\n \n \n Private\nPlacement\n \n \n \") previously announced on May\n29th, 2020 at a price of $0.05 per common share for gross proceeds of\n$200,000. Post financing, Zidane has 5,225,276 common shares issued\nand outstanding.\n \n \n \n \n The proceeds will be used to pay outstanding\nliabilities of Zidane, including repayment of a $125,000 loan to an\nofficer of Zidane, and for working capital purposes.\n \n \n \n \n An officer of Zidane purchased 500,000 common shares in\nthe Private Placement (the \"\n \n \n Escrowed Shares\n \n \n \"). Zidane has relied on the exemption provided in\n \n \n MI 61-101 s. 5.5(b) and 5.5(g) as it relates to\nan exemption from the formal valuation and on MI 61-101 s. 5.7(b) as\nit relates to an exemption from shareholders' approval requirements.\n \n \n The Escrowed Shares have been placed into escrow\npursuant to the CPC Policy and will be released upon closing of a\nqualifying transaction in accordance with the CPC Policy.\n \n \n \n \n All common shares issued to the placees under the\nPrivate Placement are subject to a four-month hold period expiring on\nMarch 13, 2021 pursuant to applicable Canadian securities legislation\nand stock exchange policy.\n \n \n \n \n No commission or finder's fees were paid in connection\nthe Private Placement.\n \n \n \n \n Zidane is also pleased to provide an update on its\nlegal action with Hydrx Farms Ltd. The parties have not completed the\ndiscovery phase at this point and accordingly the trial scheduled for\nJanuary 2021 has been adjourned. A new trial date will be set once the\ndiscovery phase is completed.\n \n \n \n \n Further Information\n \n \n \n \n For further information, please contact:\n \n \n \n \n Casper Bych, Chief Executive Officer, Zidane Capital\nCorp.\n \n \n \n \n Telephone: 604.417.6375\n \n \n \n \n Email: [email protected]\n \n \n \n \n NEITHE...

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