TCB Corporation completed the acquisition of 71 Capital Corp. 2.3 million common shares will be issued to Robson Capital for financial advisory services Robson Capital acted as financial advisor to TCB. Murray of Fogler, Rubinoff LLP acted as legal advisor to TCB and 71 Capital for some aspects of the transaction. The transaction is subject to completion of satisfactory due diligence, a definitive amalgamation agreement, exchange acceptance, required shareholder 1 Capital for some aspects of the approval and receipt of applicable approvals and third party approvals. The letter of intent will terminate on the mutual consent of both the corporation and Prodigy Ventures, if either party is not satisfied with its due diligence review of the other party by June 30, 2015. Management and Board of Directors of the corporation post deal will consist of Tom Beckerman, Robert MacLean and Stephen Moore. On July 16, 2015, shareholders approved a name change to Prodigy Ventures Inc, the proposed directors of the corporation following the transaction. Following completion of the amalgamation, shareholders of the 71 Capital Corp will hold equity interests equal to approximately 2% of the combined entity with the remaining equity interests being held by shareholders of Prodigy Ventures and new investors participating in the private placement. In connection with the completion of the qualifying transaction, Prodigy Ventures will complete a financing to raise CAD 0.09 million through the issuance of 1.2 million subscription receipts at a price of CAD 0.0725 per subscription receipt.
The restricted voting shares will not be listed on the exchange. Prodigy Ventures currently has 116 shares outstanding and the issuance of common shares and restricted voting shares of 71 Capital Corp represents an exchange ratio ("Exchange Ratio") of 931,691 shares for each Prodigy Share. Prodigy Ventures shareholders will be issued 8.8 million post-consolidation common shares and 99.9 million restricted voting shares. It is anticipated that the shares will be consolidated on the basis of 2 old shares for each 1 new share, resulting in 2.2 million new shares prior to the amalgamation. 71 Capital Corp currently has 4.4 million common shares issued and outstanding. has agreed to act as sponsor in connection with the transaction. (TSXV:SVN.H) in a reverse merger transaction on August 14, 2015. TCB Corporation entered into an agreement to acquire 71 Capital Corp. (TSXV:SVN.H) in a reverse merger transaction on May 15, 2015. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.Īs a matter of policy, BBB does not endorse any product, service or business.TCB Corporation entered into a letter of intent to acquire 71 Capital Corp. BBB Business Profiles are subject to change at any time. When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.īBB Business Profiles generally cover a three-year reporting period. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. This unique application enables the user to see all relevant properties of a DST stitch file such as stitch count, logo size, and color sequences as well as how the logo was digitized.
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