Cortina Capital Announces Proposed Qualifying Transaction with Ecolomondo Corporation

Cortina Capital (TSXV:CCN.P) is announcing that on January 14, 2017 it entered into a definitive binding letter of intent (LOI) with Ecolomondo Corporation, a private company incorporated under the Canada Business Corporation Act. According to such LOI, Cortina and Ecolomondo will complete a share purchase agreement whereby Cortina will acquire all of the issued and outstanding shares of Ecolomondo for $21,746,031 by issuing to Ecolomondo’s current shareholders, 155,328,790 Cortina common shares at a price of $0.14 per Cortina share and this will constitute Cortina’s Qualifying Transaction, as per Policy 2.4 of the TMX Venture Exchange.
As quoted in the press release:

About the Transaction
Pursuant to the terms of the binding LOI and subject to execution of a definitive share purchase agreement (the “Share Purchase Agreement”) as well as the receipt of applicable regulatory and Exchange approvals, Cortina will complete a reverse take-over or similar type transaction and will issue to Ecolomondo’s current shareholders, 155,328,790 common shares from its share capital (the “Cortina Shares”), the whole, taking into account a conversion ratio of 5.5 Cortina common shares for each Ecolomondo common shares.

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