Spackman Equities Group Inc. Engaged to Advise CanariaBio Inc. on TSX Venture Exchange

About this update from Spackman Equities Group Inc.

Spackman Equities Group Inc. Engaged to Advise CanariaBio Inc. on TSX Venture ExchangeToronto, Ontario--(Newsfile Corp. - March 3, 2025) - Spackman Equities Group Inc. (TSXV: SQG) (the "Company" or "SEGI") has entered into an advisory agreement (the "Agreement") with CanariaBio Inc. ("CanariaBio"), which is seeking to list or list its assets on the TSX Venture Exchange (the "TSXV") by entering into a reverse takeover transaction ("RTO") with a shell company or a capital pool company currently listed on the TSXV (the "Listco") in accordance with Policy 5.2 of the TSXV (the "Transaction") on March 3, 2025.CanariaBio is a Korean clinical stage biopharmaceutical company focused on the development and commercialization of immunotherapies for cancer. CanarioBio's technology platform includes a portfolio of tumor antigen specific monoclonal immunoglobulins targeting CA125, MUC1, PSA and Her2/neu. Along with the RTO, CanariaBio intends to undertake a concurrent financing by way of private placements of its securities, securities of an entity representing its assets or securities of the Listco, or any combination thereof (the "Concurrent Financing"). SEGI shall advise CanariaBio to comprehensively plan, manage, administer and supervise the overall process of the RTO and the Concurrent Financing. According to the Agreement, SEGI will be entitled to receive a certain percentage of the Transaction value, in the form of newly issued shares of the Listco, issued in addition to and concurrently with, and at the same deemed price per Listco share as, the shares of the Listco that CanariaBio (or its shareholders) shall receive at the closing of the Transaction. In connection with the raising of capital for the Concurrent Financing, SEGI shall be entitled to receive a certain percentage of the gross proceeds of the funds introduced and arranged by SEGI. Kay Na, director of SEGI, stated, "From our long experience with the TSX Venture Exchange ("TSXV"), we believe that the TSXV has evolved into one of the most attractive listing venues for small/medium-sized growth businesses in recent years, especially in terms of the efficient and transparent regulatory framework and its understanding of the needs of development stage businesses. As one of SEGI's primary business growth engines going forward, we plan to lead the charge in becoming a conduit, as an investor or adviser or bo...

View stock analysis, news, and events for Spackman Equities Group Inc.