- Transition Opportunities Corp. (TOP.P) has completed an initial public offering for gross proceeds of $500,000
- The company issued 5,000,000 shares at a price of $0.10 per common share
- With the completion of the offering, the corporation now has 10,000,000 common shares issued and outstanding
- The corporation intends to use the net proceeds of the offering to identify and evaluate assets or businesses for acquisition
- Transition Opportunities Corp. is a capital pool company
- The share price of the corporation (TOP.P) remained unchanged at $0.10 at 3:19 PM ET
Transition Opportunities Corp. (TOP.P) has completed an initial public offering for gross proceeds of $500,000.
The company issued 5,000,000 common shares at a price of $0.10 per common share.
With the completion of the offering, the corporation now has 10,000,000 common shares issued and outstanding.
Net proceeds will be used to complete a “qualifying transaction” under the policies of the TSX Venture Exchange Inc.
The common shares will resume trading under the trading symbol “TOP.P” on April 25, 2022.
Haywood Securities Inc. acted as the agent for the offering. Transition granted the agent share purchase warrants.
In connection with the offering, Haywood also received a cash commission equal to 10 per cent of the gross proceeds of the offering, a corporate finance fee, and was reimbursed for legal fees and reasonable expenses.
Transition Opportunities Corp. also granted to its directors and officers options to acquire an aggregate of 500,000 common shares at an exercise price of $0.10 per common share which will expire five years from the date of grant.
“We have all witnessed the incredible growth potential and necessity of clean technology to meet growing global demand,” said John Pantazopoulos, the Chief Executive and Chief Financial Officer.
“Strong capital markets are essential to ensure companies have the ability to develop and bring to market real solutions to address the challenges of the future,” he added.
Transition Opportunities Corp. is a capital pool company.
The share price of Transition Opportunities Corp. (TOP.P) remained unchanged at $0.10 as at 3:19 PM ET.