Skyscape Capital Inc. (TSXV:SKY.P) (‘Skyscape’) cancelled the non-binding letter of intent to acquire HyperBlock Technologies Corp. (‘HyperBlock’).
April 04, 2018
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Skyscape Capital Inc. (TSXV:SKY.P) (‘Skyscape') entered into a non-binding letter of intent to acquire HyperBlock Technologies Corp. (‘HyperBlock') on January 19, 2018. The amount of the consideration to be paid may consist of common shares, cash or a combination thereof. Skyscape may use cash, bank financing, issuance of treasury shares, private or public financing of debt or equity, or some combination thereof to finance the transaction. If the acquisition is completed, Eric So, Hon. Ronald R. Spoehel, Sean Walsh (Chief Executive Officer of Hyperblock), Anthony Lacavera, Dayna Gibbs and Tony Gaffney will comprise the Board of Directors, while Sean Walsh (Chief Executive Officer), Dimitrios Andriopoulos (Chief Financial Officer of Hyperblock) and Victor Ruscitto (Chief Technology Officer of Hyperblock) will be the officers of the combined company.
Completion of the transaction will be subject to the performance of a satisfactory due diligence review relating to HyperBlock, including, but not limited to, the following: (a) the assets of HyperBlock; (b) negotiation of the purchase price between the parties, which will likely be satisfied through the issuance of common shares of Skyscape; (c) agreement by the parties to the proposed transaction as to the total consideration to be paid for the acquisition of HyperBlock; (d) approval of the acquisition by the board of directors of HyperBlock and by the directors of Skyscape; (e) raising of any funds required to meet exchange minimum listing requirements; (f) submission of documentation respecting the business of HyperBlock acceptable to the stock exchange; (g) satisfaction of the exchange's minimum listing requirements; and (h) obtaining of the required directors' and shareholders approvals. The Skyscape Board is currently in the process of conducting due diligence on HyperBlock.
Skyscape Capital Inc. (TSXV:SKY.P) (‘Skyscape') cancelled the non-binding letter of intent to acquire HyperBlock Technologies Corp. (‘HyperBlock') on April 5, 2018. Following the termination, Skyscape will continue to identify and evaluate opportunities for the purpose of completing its qualifying transaction.
PesoRama Inc. is a Canadian company operating dollar stores in Mexico under the JOi Canadian Stores brand. The Company offers consumers a wide variety of products with a focus on the value/dollar segment of the retail market. The Company's product categories include household goods, pet supplies, seasonal products, party supplies, health and beauty, snack food items and confectionery, among others. The Company, through its JOI DOLLAR PLUS brand, provides Mexican shoppers with dollar store services. The Company operates approximately 21 stores in shopping malls, including Mundo E, Centro Comercial Magnocentro, Patio Chalco, Multiplaza Arboledas, Plaza Central, Patio Toluca, Multiplaza Izcalli, Town Center Nicolas Romero, Town Center El Rosario, Cosmopol Coacalco, Portal Lomas Estrella, Town Center Zumpango, Gran Patio Pachuca, Gran Sur, Gran Patio Ecatepec, Centro Lago De Guadalupe, Pabellon Cuauhtemoc, Cuernavaca, Pabellon Cuemanco and Power Center San Marcos.
Skyscape Capital Inc. (TSXV: SKY.P) (‘Skyscape’) cancelled the non-binding letter of intent to acquire HyperBlock Technologies Corp. (‘HyperBlock’).
PESORAMA INC. 