In connection with the RTO, RISE has changed its name to "
Closing of RTO
On
Final approval of the CSE is subject to the Resulting Issuer meeting certain conditions required by the CSE. Upon receipt of the final approval of the CSE, the BLAB Shares will commence trading on the CSE under the symbol "BLAB", which is expected to occur by the end of this week.
Further details regarding the RTO and the Amalgamation are provided in the Form 2A – Listing Statement of RISE dated
Conditional Approval of the CSE, Consolidation and Name Change
On
RISE previously held its annual general and special meeting of shareholders on
Management and Board Reconstitution
Effective upon closing of the RTO, the Board of Directors of Britannia was reconstituted to consist of:
Effective upon closing of the RTO, management of Britannia was reconstituted to consist of:
Other Corporate Updates
In connection with the completion of the RTO:
- the directors of Britannia resolved to change the financial year end of Britannia from
November 30 to March 31 , being the same year end as the reverse takeover acquirer; and Zeifmans LLP has been appointed as the auditor of Britannia.
Following completion of the RTO,
Peter Shippen , a director and the Chief Executive Officer of Britannia has beneficial ownership and control over 36,648,397 BLAB Shares, representing approximately 24% of the issued and outstanding BLAB Shares. Prior to completion of the Amalgamation,Mr. Shippen did not hold any securities of RISE (predecessor to Britannia). An early warning report will be filed byMr. Shippen in respect of Britannia with applicable Canadian securities regulatory authorities. To obtain copies of the early warning report filed byMr. Shippen , please contactMr. Shippen as indicated below. A copy of the early warning report filed byMr. Shippen will be available on SEDAR (www.sedar.com) under the issuer profile of Britannia.Mark Bowes-Cavanagh , the Chief Technical Officer of Britannia and the managing director of Britannia's operating subsidiary,Advanced Development & Safety Laboratories Limited , has beneficial ownership and control over 15,600,000 BLAB Shares, representing approximately 10% of the issued and outstanding BLAB Shares. Prior to the Amalgamation, Mr. Bowes-Cavanagh did not hold any securities of RISE (predecessor to Britannia). An early warning report will be filed by Mr. Bowes-Cavanagh in respect of Britannia with applicable Canadian securities regulatory authorities. To obtain copies of the early warning report filed by Mr. Bowes-Cavanagh, please contact Mr. Bowes-Cavanagh as indicated below. A copy of the early warning report filed by Mr. Bowes-Cavanagh will be available on SEDAR (www.sedar.com) under the issuer profile of Britannia.
As of the date of this news release, neither
The BLAB Shares beneficially owned and controlled by each of
Advisors
About
Britannia's head office is located at
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this news release may be deemed "forward‐looking statements" within the meaning of applicable Canadian securities laws. These forward‐looking statements, by their nature, require Britannia to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward‐looking statements. Forward‐looking statements are not guarantees of performance. Words such as "may", "will", "would", "could", "expect", "believe", "plan", "anticipate", "intend", "estimate", "continue", or the negative or comparable terminology, as well as terms usually used in the future and the conditional, are intended to identify forward‐looking statements. Information contained in forward‐looking statements, including with respect to final approval of the CSE and the timing thereof as well as future prospects in the laboratory services and product development industry, is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, public disclosure from peer companies, as well as other considerations that are believed to be appropriate in the circumstances. Britannia consider its assumptions to be reasonable based on information currently available, but cautions the reader that their assumptions regarding future events, many of which are beyond Britannia's control, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect Britannia, and its business.
For additional information with respect to these and other factors and assumptions underlying the forward‐looking statements made in this news release concerning Britannia, see the Listing Statement available electronically under Britannia's issuer profile on SEDAR (www.sedar.com). The forward‐looking statements set forth herein concerning Britannia reflect management's expectations as at the date of this news release and are subject to change after such date. Britannia disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.
The CSE has in no way passed upon the merits of the RTO and has neither approved nor disapproved the contents of this news release.
SOURCE
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