The Conversation (0)
Cleantech Capital Enters into LOI with Char Technologies
Sep. 17, 2015 08:22AM PST
Cleantech Investing
Cleantech Capital (TSX VENTURE:YES.P) has announced that it has entered into a letter of intent with Char Technologies. Dated September 11, 2015, the LOI refers to a proposed business combination. The resulting company will be renamed “Char Technologies Inc.”
Cleantech Capital (TSX VENTURE:YES.P) has announced that it has entered into a letter of intent with Char Technologies. Dated September 11, 2015, the LOI refers to a proposed business combination. The resulting company will be renamed “Char Technologies Inc.”
According to a press release:
According to a press release:
The Transaction will be structured as a three-cornered amalgamation in which Char will amalgamate with a new wholly owned subsidiary of Cleantech formed solely for the purpose of facilitating the Transaction. On the closing of the Transaction, Cleantech will change its name to Char Technologies Inc.
For purposes of determining the relative share exchange ratios, upon completion of the Qualifying Transaction the shareholders of each of Cleantech and Char shall hold the numbers of shares and percentages of shares of combined entity (“ResultCo”) as set out below.
Click here to read the full press release.
