- Dash Capital Corp. (DCX.P) provides update regarding its qualifying transaction with Simply Solventless Concentrates Ltd.
- Upon completion of the transaction, the resulting issuer will continue SSC’s business in the cannabis industry
- Details of the transaction, including the amount and type of proposed consideration, were previously disclosed
- Dash and SSC will seek approval of the TSXV for Dash to advance a secured loan in the amount of $250,000
- Dash Capital Corp. (DCX.P) is trading at C$0.13 at 1:31 pm EST
Dash Capital Corp. (DCX.P) and Simply Solventless Concentrates are pleased to provide an update on the business combination.
This will constitute the “Qualifying Transaction” of Dash as such term is defined under TSX Venture Exchange Policy 2.4 – Capital Pool Companies.
As previously disclosed, Dash, SSC and 2366191 Alberta Ltd., a wholly-owned subsidiary of Dash, entered into an amalgamation agreement dated August 6, 2021, which, among other things, sets forth the terms and conditions of the transaction.
Upon completion of the transaction, it is intended that the resulting issuer will continue SSC’s business in the cannabis industry.
Details of the transaction, including the amount and type of proposed consideration, were previously disclosed in the news releases on June 11, 2021, and August 9, 2021.
On January 31, 2022, Dash, SSC and Dash Subco entered into an amending agreement to the amalgamation agreement, which, among other things, extended the outside date for the closing date of the transaction to May 31, 2022.
A copy of the amalgamation agreement, the amending agreement and the previous news releases of Dash detailing the transaction have been filed on Dash’s SEDAR profile.
Dash and SSC will seek approval of the TSXV for Dash to advance a secured loan in the amount of $250,000 to SSC pursuant to and in accordance with Section 8.5 of TSXV Policy 2.4.
If approved by the TSXV, the advance will be made by Dash to SSC on customary terms and conditions for a secured loan of this nature. SSC plans to use the proceeds from the advance for general working capital purposes.
SSC is a private company incorporated under the Business Corporations Act (Alberta).
Dash is a public company incorporated under the Business Corporations Act (Alberta).
Dash Capital Corp. (DCX.P) is trading at C$0.13 at 1:31 pm EST.