HerdWhistle Technologies Inc. cancelled the acquisition of Farstarcap Investment Corp. (TSXV:FRS.P) in a reverse merger transaction.
Upon completion of the Transaction, the combined entity (the ?Resulting Issuer?) will continue the business of HWT as a Tier 2 ?technology? issuer. Subject to Exchange approval, on completion of the transaction, it is currently anticipated that the board of directors of the Resulting Issuer will consist of five (5) directors, Jack Behan, Chief Executive Officer; Graham Plastow, Chief Science Officer; Adam Morand, Chief Operating Officer; Andrew Jonsson, Chief Financial Officer and Braden Bjornson, Chief Xperience Officer. The closing of the Transaction will be conditional upon HWT completing a private placement financing of subscription receipts (the ?Subscription Receipts?) at a price of CAD 0.2 per subscription receipt unit, receipt of all necessary regulatory and third-party consents, approvals and authorizations as may be required in respect of the transaction, including, but without limitation, acceptance of the Exchange; completion of due diligence to the satisfaction of the parties; approval of the board of directors of each of Farstarcap and HWT to final terms and conditions of the transaction as set forth in the Definitive Agreement and all other necessary matters related thereto prior to the signing of the Definitive Agreement; the signing of the Definitive Agreement; and approval of the transaction by the shareholders of HWT.
HerdWhistle Technologies Inc. (HWT) cancelled the acquisition of Farstarcap Investment Corp. (TSXV:FRS.P) in a reverse merger transaction on February 26, 2024.