Logica Ventures Corp. (TSXV:LOG.P) cancelled the acquisition of Alpha Gold North Inc.
The board and management of the resulting entity will be comprised of AGN nominees, and is expected to include Trumbull Fisher (chief executive officer and director), Alan Rootenberg (chief financial officer and director), Bob Metcalfe (independent director) and Clayton Fisher (independent director).
Completion of the proposed transaction will be subject to a number of conditions precedent set forth in the LOI, including, but not limited to: (i) the negotiation and execution of a definitive agreement on or before September 30, 2022; (ii) AGN's completion of certain share buyback transactions; (iii) approval of the shareholders of AGN and, if applicable, of the company; (iv) AGN's completion of a concurrent financing; and (v) receipt of all requisite regulatory and third party approvals, including conditional approval by the TSXV of the proposed transaction.
As of September 19, 2022, In connection with the Proposed Transaction, Logica and AGN have engaged Echelon Capital Markets (Echelon) as lead agent and sole bookrunner, along with a syndicate of agents including Red Cloud Securities Inc. (and together with Echelon, the Agents), to conduct concurrent best efforts private placement offering of up to CAD 3 million.
Logica Ventures Corp. (TSXV:LOG.P) cancelled the acquisition of Alpha Gold North Inc. on March 15, 2023.