Folkstone Capital Corp. (TSXV:FKS.P) completed the acquisition of Sophia Capital Corp. (TSXV:SCQ.P) in a reverse merger transaction.
The transaction, subject to dissenters rights being limited to 5%, obtaining all necessary regulatory and shareholder approvals, including the approval of the Exchange is expected to become effective on or before September 3, 2013. As of August 27, 2013, The transaction was approved by the shareholders of each company and remains subject to the receipt of final regulatory approval from the TSXV. The shares of tFolkstone Capital Corp. have been conditionally approved for listing on the TSXV and will commence trading under the symbol "FKS.P" following the approval by the TSXV. Eric Owens, Mario Miranda, and Eddy Canova have been appointed to the board of directors of the Company. Eric Owens will serve as Chief Executive Officer and Mario Miranda will serve as Chief Financial Officer and Secretary of the Company. Pursuant to the transaction, Eric Owens, Mario Miranda and Eddy Canova acquired approximately 43.38% of the issued and outstanding common shares, representing approximately 2.54 million common shares of Folkstone Capital Corp. Sanjay Joshi of Norton Rose Fulbright Canada LLP acted as legal advisor for Folkstone Capital Corp. and Sophia Capital Corp.
Folkstone Capital Corp. (TSXV:FKS.P) completed the acquisition of Sophia Capital Corp. (TSXV:SCQ.P) in a reverse merger transaction on August 27, 2013.