Halcones Precious Metals Inc completed the acquisition of Pinehurst Capital II Inc. (TSXV:PINH.P) in a reverse merger transaction.
The completion of the Proposed Transaction is subject to a number of terms and conditions, including and without limitation to the following: negotiation and execution of the Definitive Agreement; there being no material adverse changes in respect of either Pinehurst or Halcones; the parties obtaining all necessary consents, orders, regulatory and approval by Halcones shareholders, including the conditional approval of the TSXV; completion of the Name Change and any other required corporate changes requested by Halcones, acting reasonably; completion of the Consolidation, completion of the Concurrent Financing; completion of a NI 43-101 compliant technical report for the Project; completion of a thorough business, legal and financial review by each party of the other party; and other standard conditions of closing for a transaction in the nature of the Proposed Transaction. Upon completion of the Proposed Transaction, it is anticipated that the resulting issuer will be listed as a Tier 2 mining issuer on the TSXV. As of April 5, 2022, parties have entered into an engagement letter in connection with a proposed private placement offering of up to 15,000,000 subscription receipts, for aggregate gross proceeds of up to CAD 6,000,000. As of April 29, 2022, the transaction is expected to close in the next 12 months. As of May 23, 2022, Pinehurst and Halcones entered into an amending agreement principally to extend the time to close the Proposed Transaction to August 30, 2022. As on June 30, 2022 Halcones has closed a non-brokered private placement of units.
Halcones Precious Metals Inc completed the acquisition of Pinehurst Capital II Inc. (TSXV:PINH.P) in a reverse merger transaction on September 20, 2022. Halcones Shares are expected to commence trading on the TSXV under the ticker symbol HPM on or about September 22, 2022. The TSXV has conditionally approved the listing of Halcones Shares. In connection with the Transaction and the Concurrent Financings, Miller Thomson LLP acted as legal counsel to Halcones, Owens Wright LLP acted as legal counsel to Pinehurst and Borden Ladner Gervais LLP acted as legal counsel to the Agents in relation to the Subscription Receipt Financing.