- Bastion Square Partners Inc. (BASQ.P) announces its successful completion of its initial public offering
- The offering consists of 15,000,000 common shares of Bastion at a price of $0.10 per share for gross proceeds of $1,500,000
- Haywood Securities Inc. acted as the agent for the offering. As compensation Bastion granted Haywood 375,000 non-transferrable agent’s warrants, making up 7.5 per cent of the total shares sold to subscribers
- Following the closing of the public offering, Bastion has 25,000,000 common shares outstanding. 10,000,000 of which have been placed in escrow
- Bastion also grants incentive stock options to its directors and officers to acquire an aggregate of 2,500,000 common shares which are also subject to escrow
- It will use the net proceeds from its offering to identify and evaluate assets for acquisition resulting in a “qualifying transaction” under the TSXV’s capital pool company program
- Bastion Square Partners Inc. (BAQ.P) is unchanged trading at $0.10 per share at 12:20 p.m. ET
Bastion Square Partners Inc. (BASQ.P) announces the successful completion of its initial public offering.
The offering consists of 15,000,000 common shares of Bastion at a price of $0.10 per share for gross proceeds of $1,500,000.
Haywood Securities Inc. acted as the agent for the offering. As compensation Bastion granted Haywood 375,000 non-transferable agent’s warrants, making up 7.5 per cent of the total shares sold to subscribers.
Each agent’s warrant is exercisable to purchase one common share of Bastion at a price of $0.10 until October 12, 2024.
Following the closing of the public offering, Bastion has 25,000,000 common shares outstanding. 10,000,000 of which have been placed in escrow.
On October 7 the TSXV issued a bulletin approving the listing of the common shares under the trading symbol “BASQ.P” beginning on the market open on October 12 and immediately issued a trading halt. TSXV will issue a further notice lifting the trading halt upon proof of confirmation of the initial offering.
Bastion will use the net proceeds from its offering to identify and evaluate assets for acquisition resulting in a “qualifying transaction” under the TSXV’s capital pool company program.
Bastion also grants incentive stock options to its directors and officers to acquire an aggregate of 2,500,000 common shares which are also subject to escrow. Each option is exercisable at a price of $0.10 per share for five years after the date of grant.
Bastion consists of directors and officers that work as investors and industry executives with a track record of identifying, investing in, building, operating and advising leading businesses.
Bastion Square Partners Inc. (BAQ.P) is unchanged trading at $0.10 per share at 12:20 p.m. ET.