- Dragonfly Capital Corp. (DRC.H) has agreed to acquire all issued and outstanding shares of Black Swan Graphene Inc. for $39.1 million
- Dragonfly will acquire all outstanding Black Swan shares for 210,229,434 Dragonfly common shares at $0.15 per share
- Dragonfly will also complete a non-brokered subscription receipt financing of 33.3 million subscription receipts at a price of $0.15 per receipt for $5 million
- A minimum of 261,310,290 common shares of the resulting issuer are expected to be issued and outstanding on the closing date
- Dragonfly Capital Corp. (DRC.H) is unchanged trading at $0.135 per share as of 11:19 a.m. EST
Dragonfly Capital Corp. (DRC.H) has agreed to acquire all issued and outstanding shares of Black Swan Graphene for $39.1 million.
The common shares will trade on the TSXV under the symbol SWAN.
The agreement requires Dragonfly to acquire all outstanding Black Swan shares for 210,229,434 Dragonfly common shares priced at $0.15 per share.
Each outstanding Black Swan option will be exchanged for an equivalent replacement option.
Dragonfly will complete a non-brokered subscription receipt financing for proceeds of $5 million.
A minimum of 261,310,290 common shares of the resulting issuer are expected to be issued on the closing date.
Upon closing, 6.79 per cent of resulting issuer shares will be held by the current shareholders of Dragonfly, approximately 80.45 per cent will be held by the Black Swan shareholders, and 12.76 per cent will be held by the subscribers under the subscription receipt financing.
Dragonfly Capital Corp. (DRC.H) is unchanged trading at $0.135 per share as of 11:19 a.m. EST.