- Hopefield Ventures Inc. (HVI.P) has signed a $250,000 amalgamation agreement with CyberCatch Holdings, Inc. and its subsidiary, 1390090 B.C. Ltd.
- The $250,000 advancement bears no interest and will mature on February 28th
- CyberCatch will amalgamate with its subsidiary, and Hopefield will be listed as a tier-two technology issuer
- The resulting issuer will be under the business name of CyberCatch Global Inc., providing software-as-a-service solutions
- Hopefield will consolidate its common shares on an approximate 3.87 to 1.00 basis
- Hopefield Ventures Inc. (HVI.P) is unchanged, trading at $0.08 per share as of 12:55 p.m. EST
Capital pool company, Hopefield Ventures (HVI.P), signed a $250,000 amalgamation agreement with CyberCatch Holdings, Inc. and its subsidiary, 1390090 B.C. Ltd.
Hopefield agreed to advance to CyberCatch the $250,000 upon receipt of conditional approval from the TSX Venture Exchange for the amalgamation completion. The loan bears no interest and will mature on February 28th.
CyberCatch will amalgamate with its subsidiary to enable the completion of the transaction. Afterwhich, Hopefield will be listed on the TSX Venture Exchange as a tier two technology issuer, and the resulting issuer will be under the business name of CyberCatch Global Inc., providing software-as-a-service solutions.
Hopefield will consolidate its common shares on an approximate 3.87 to 1.00 basis. Each Hopefield shareholder will receive one post-consolidation common share for every 3.87 Hopefield shares held at the time of the consolidation. After this, the company will hold roughly 10 million post-consolidation shares issued and outstanding.
The companies anticipate the resulting issuer to have approximately 52.5 million shares issued and outstanding on an undiluted basis and will have approximately $2.9 million in cash available once the transaction has closed.
The former shareholders of CyberCatch will hold about 80.50 per cent of the resulting Issuer Shares, while the former shareholders of Hopefield will hold 19.00 per cent of the resulting issuer shares.
Hopefield also signed a finder’s fee agreement with Toro Pacific Management Inc. to issue 250,000 of its post-consolidation shares.
Hopefield Ventures Inc. (HVI.P) is unchanged, trading at $0.08 per share as of 12:55 p.m. EST.