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IcarusCapital Corp (“Icarus”) is pleased to announce that its qualifying transaction (“QT”) has now closed.
The QT is described in a Filing Statement which has been posted and is available for viewing under Icarus’ profile atwww.SEDAR.com.
Icarus has acquired all of the issued and outstanding shares of 1401935
Icarus has concurrently entered into a Franchise Agreement which permits it to continue the operation of Yuk Yuk’s.
Since the Filing Statement was first published, certain changes have since been made as noted below:
The “Additional Distribution Financing” (as defined in the Filing Statement) will now be
With respect to the Additional Distribution Financing, Icarus paid finders fees of
The “Convertible Debenture Financing” (as defined in the Filing Statement) will now be
All new securities issued will be subject to a four month hold-period.
Mr.
The undiluted issued and outstanding capital of Icarus is 6,367,827 common shares.
Icarus will not paymanagement fees or other executive compensation for 12-months post QT.
About Icarus
Icarus was a
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the QT; the business plans of Icarus; use of funds; and the business and operations of the Resulting Issuer after the proposed QT. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay and failure to receive applicable Board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. These forward-looking statements are made as of the date hereof and Icarus disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
For further information regarding the QT, please contact:
Email: garry@icaruscapital.ca
Telephone: (778) 866 - 9041
NOT FOR DISSEMINATION IN
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