Escrow

Metropolitan Commercial Bank Furthers its Reach in the Title and Escrow Deposit Vertical

Retrieved on: 
Wednesday, May 17, 2023
Professional Services, Other Professional Services, Finance, Asset Management, Banking, Personal Finance, Treasury management, Senior, Commercial bank, Internal Revenue Code section 1031, Old National Bank, Accounting, Citizens Financial Group, Huntington Bancshares, Bank, Fifth Third Bank, Commercial property, Security (finance), Escrow, Title

Metropolitan Commercial Bank (the “Bank”), a New York City-based full-service commercial bank, announced today the further expansion of their Title and Escrow Deposit Vertical with the appointment of two veteran Title and Escrow banking professionals from Fifth Third Bank.

Key Points: 
  • Metropolitan Commercial Bank (the “Bank”), a New York City-based full-service commercial bank, announced today the further expansion of their Title and Escrow Deposit Vertical with the appointment of two veteran Title and Escrow banking professionals from Fifth Third Bank.
  • “Rob and Nowanna are a great fit to assist in expanding our Title and Escrow group,” said Mark R. DeFazio, President and CEO of Metropolitan Commercial Bank.
  • “Metropolitan Commercial Bank continues to identify the right teams as well as the right business lines on which to focus.
  • We heartily welcome this team of experienced professionals to the Metropolitan Commercial Bank family,” said Laura Capra, Executive Vice President and Head of Retail Banking for Metropolitan Commercial Bank.

Talen Announces Closing of $1.2 Billion Senior Secured Notes Offering

Retrieved on: 
Friday, May 12, 2023
Corporate action, Plan, TEC, Talen Energy, SEC Rule 144A, Line of credit, TES, Person, Sale, Escrow, Joint, Regulation, Trust company, Bankruptcy, Security (finance), Note

HOUSTON, May 12, 2023 /PRNewswire/ -- Talen Energy Corporation ("TEC") announced today that Talen Energy Supply, LLC ("TES" or the "Company"), a direct wholly owned subsidiary of TEC, has completed its previously announced offering of $1.2 billion in the aggregate principal amount of its 8.625% senior secured notes due 2030 (the "Notes"), pursuant to the Joint Chapter 11 Plan of Reorganization of Talen Energy Supply, LLC and its Affiliated Debtors (the "Plan").

Key Points: 
  • HOUSTON, May 12, 2023 /PRNewswire/ -- Talen Energy Corporation ("TEC") announced today that Talen Energy Supply, LLC ("TES" or the "Company"), a direct wholly owned subsidiary of TEC, has completed its previously announced offering of $1.2 billion in the aggregate principal amount of its 8.625% senior secured notes due 2030 (the "Notes"), pursuant to the Joint Chapter 11 Plan of Reorganization of Talen Energy Supply, LLC and its Affiliated Debtors (the "Plan").
  • Prior to the Completion Date, the Notes will be senior secured obligations of the Company secured only by a first priority security interest in the Escrow Account and all amounts on deposit therein, and the Notes will not be guaranteed.
  • The Notes and the related guarantees have not been and will not be registered under the Securities Act or any state securities laws.
  • The offering of Note is being made only by means of a confidential offering circular.

Allied Gold Corp Limited, Allied Merger Corporation and Mondavi Ventures Ltd. Announce Binding Letter of Intent for Business Combination and Financing for Minimum Proceeds of US$300,000,000

Retrieved on: 
Thursday, May 11, 2023
FOR, Definitive, Coeur Mining, Golden Pride Gold Mine, Yamana Gold, News, Mining, BMO Capital Markets, Letter, General counsel, Finance Secretary (India), OR, AngloGold Ashanti, AMC, Pan American Silver, Silver, Corporation, Blackwell, Agnico Eagle, LLP, NOT, Centamin, Standstill, Gold, Yamana, McCarthy Tétrault, Moelis & Company, Stifel, Funding, NBF, Metallurgy, Sale, Date, Prospectus, Issuer, Paul, Weiss, Rifkind, Wharton & Garrison, Security (finance), Management, Mail, Commercial property, Bay Street, Agent, Escrow, Mondavi

TORONTO, May 11, 2023 (GLOBE NEWSWIRE) -- Allied Gold Corp Limited (“Allied”), Allied Merger Corporation (the “AMC”) and Mondavi Ventures Ltd. (“Mondavi”) are pleased to announce that they have entered into a binding letter agreement dated May 11, 2023 (the “Letter Agreement”) outlining the terms upon which Mondavi, an unlisted reporting issuer in Canada, will enter into a business combination with Allied and AMC pursuant to which the current shareholders of each of Allied and AMC will receive common shares of Mondavi, resulting in a reverse take-over of Mondavi (the “RTO”). The Letter Agreement was negotiated at arm’s length between representatives of Allied, AMC and Mondavi. In this news release, references to the “Resulting Issuer” are to Mondavi after the closing of the RTO, which will be the continuing public issuer carrying on the business of Allied.

Key Points: 
  • The Letter Agreement was negotiated at arm’s length between representatives of Allied, AMC and Mondavi.
  • In this news release, references to the “Resulting Issuer” are to Mondavi after the closing of the RTO, which will be the continuing public issuer carrying on the business of Allied.
  • Allied, AMC and Mondavi will negotiate a definitive agreement (the “Definitive Agreement”), substantially on the terms of the Letter Agreement, in connection with completing the RTO.
  • SCP Resource Finance LP is acting as financial advisor to Allied and AMC in connection with financing matters.

Hedosophia European Growth- Initiation of Redemption and Liquidation

Retrieved on: 
Wednesday, May 3, 2023
Professional Services, Finance, Unit, Common stock, Business, Escrow, Warrant, Estate agent, Security (finance)

Hedosophia European Growth (the "Company") today announces that it will not conclude a Business Combination ahead of its Business Combination Deadline of 18 May 2023.

Key Points: 
  • Hedosophia European Growth (the "Company") today announces that it will not conclude a Business Combination ahead of its Business Combination Deadline of 18 May 2023.
  • Thereafter, as promptly as reasonably possible following such redemption the Company will liquidate and dissolve, subject to board and shareholder approval.
  • The costs relating to the liquidation and dissolution of the Company are expected to be funded by the Sponsor Entity.
  • The timetable below sets forth certain expected key dates for the redemption and liquidation:

Pegasus Acquisition Company Europe B.V. - 2022 Annual Report publication, convening of AGM and initiation of liquidation process

Retrieved on: 
Tuesday, March 21, 2023
Unit, Escrow, IPO, Market, Financial market, Business, AGM, Business analyst, Prospectus, EUR, Warrant, Finance Secretary (India), Articles of association, Security (finance)

Shareholders of Units and Class A Ordinary Shares ("Public Shares") will receive a total liquidation distribution which is currently estimated to be EUR 10 or slightly less.

Key Points: 
  • Shareholders of Units and Class A Ordinary Shares ("Public Shares") will receive a total liquidation distribution which is currently estimated to be EUR 10 or slightly less.
  • The Founder Shares and all Warrants (as defined in the Prospectus) will not receive any distributions from the Escrow Accounts.
  • Secondly, any final liquidation distribution amount will be distributed by the Company in July after the court has confirmed that no creditors have opposed the Company’s liquidation.
  • The timetable below sets forth certain expected key dates for the AGM and the liquidation:

NORTHSTAR GAMING HOLDINGS INC. (FORMERLY BADEN RESOURCES INC.) ANNOUNCES COMPLETION OF REVERSE TAKEOVER TRANSACTION AND FILING OF FORM 2B WITH THE TSX VENTURE EXCHANGE

Retrieved on: 
Friday, March 3, 2023
SEDAR, TSX Venture Exchange, Business analyst, Debenture, Fund for Protection of Investors' Rights in Foreign States, NorthStar, The Company, TSX, Early warning, Software, Mach 3, IRA, Tevir, National instrument, Ground Floor, Escrow, Policy, News, Blue Jay Way, Gambling, Isle, Main–Market Historic District, Exercise, CSE, Related, RRA, London Stock Exchange, Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc., Business, IM1, BET, Subscription business model, Security (finance), Commercial property, Cryptocurrency, Torstar, Playtech

The Company will issue an updated release upon the issuance of the trading bulletin by the TSX-V confirming the trading date.

Key Points: 
  • The Company will issue an updated release upon the issuance of the trading bulletin by the TSX-V confirming the trading date.
  • On December 19, 2022, NorthStar completed a non-brokered private placement of unsecured convertible debentures (the "Debenture") with Playtech plc ("Playtech") for gross proceeds of C$12.25M.
  • As at the date hereof, Playtech is entitled to nominate one (1) individual to be a director of the Company.
  • The Company common shares held by the Tevir Entities and their associates and affiliates are also subject to the Escrow Agreement.

Cashbox Ventures Announces Closing of Oversubscribed Financing

Retrieved on: 
Thursday, March 2, 2023
PI, Failure, Lithium, Legislation, Funding, Canadian Securities Exchange, News, Escrow, Subscription business model, Multilateral, Minority, CSE, Bank, Pacific Ocean, Corporation

The gross proceeds of the Financing are being held in escrow by an escrow agent (the “Escrow Agent”) acceptable to the Corporation and LiCAN.

Key Points: 
  • The gross proceeds of the Financing are being held in escrow by an escrow agent (the “Escrow Agent”) acceptable to the Corporation and LiCAN.
  • If the Escrow Release Conditions are satisfied or waived prior to the Escrow Deadline, then the Escrow Agent will release the gross proceeds of the Financing to the Corporation.
  • Certain insiders of the Company subscribed for Subscription Receipts under the Financing, in an aggregate ‎amount of 1,000,000 Subscription Receipts.
  • In connection with the Financing, the insiders ‎participating in the Financing entered into subscription agreements with the Company ‎containing customary provisions, and on the same terms as the arm’s length subscribers under the ‎Financing.

Cashbox Ventures Ltd. Announces Further Details in Connection with its Previously Announced Financing

Retrieved on: 
Monday, January 23, 2023
Lithium, Subscription business model, Legislation, Cashbox, Canadian Securities Exchange, Sale, Escrow, Price (surname), CSE, Minority, MI, Funding, News, Security (finance), Corporation, Pacific Ocean

VANCOUVER, British Columbia, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Cashbox Ventures Ltd. (CSE: CBOX.X) (the "Corporation" or "CashBox") is pleased to announce further details regarding its non-brokered private placement (the "Financing") being conducted in connection with its previously announced business combination (the "Proposed Transaction") with LiCAN Exploration Inc. ("LiCAN") (see January 18, 2023 news release).

Key Points: 
  • VANCOUVER, British Columbia, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Cashbox Ventures Ltd. (CSE: CBOX.X) (the "Corporation" or "CashBox") is pleased to announce further details regarding its non-brokered private placement (the "Financing") being conducted in connection with its previously announced business combination (the "Proposed Transaction") with LiCAN Exploration Inc. ("LiCAN") (see January 18, 2023 news release).
  • Closing of the Financing is expected to occur on or about the week of February 15, 2023.
  • The gross proceeds of the Financing will be held in escrow by an escrow agent (the "Escrow Agent") acceptable to the Corporation and LiCAN.
  • CashBox is incorporated under the laws of the Province of British Columbia and has a head office in Vancouver, British Columbia.

ARTHUR CAPITAL INC. Announces $1 Million Regulation D 506(c) Capital Raise

Retrieved on: 
Friday, July 1, 2022
Transfer, Securities Act of 1933, Company, History, Partnership, Learning, Risk, Escrow, Time, News, Risk management, Security (finance)

There is more wealth circulating today than at any other time in history, yet some communities do not see the benefit.

Key Points: 
  • There is more wealth circulating today than at any other time in history, yet some communities do not see the benefit.
  • At the same time, corporations are wrestling with how to balance their purpose as wealth creation entities with their role in society.
  • We've spent the past two years iterating, learning, and testing boundary conditions for a repeatable approach to scale.
  • We are now seeking $1 Million growth capital to be deployed in three specific opportunities.

Mich Resources Announces Revised Agreements to Consolidate the Pecoy Copper Project and $21 Million Financing, Including Strategic Investment by Two Senior Canadian Mining Companies

Retrieved on: 
Monday, June 27, 2022
Issue, Columbia, Vendor, JV, Escrow, GLOBE, Company, Mining, NOT, MICH, Canadian Securities Exchange, TSX Venture Exchange, Consideration, Transaction, Agent, Teck Resources, Ownership, Anmugar Amadal N Zafran, Mitsubishi Materials, Acquisition, CEO, Offering, Copper, News, Water, Easter (Patti Smith Group album), FOR, Major, Sale, CSE, Special-purpose acquisition company, Lithium, Oil, Security (finance), Iron ore, Exchange, Cretaceous, Atacama Desert

VANCOUVER, British Columbia, June 27, 2022 (GLOBE NEWSWIRE) -- Mich Resources Ltd. (CSE: MICH) (“Mich” or the “Company”) is pleased to announce that it has entered into updated definitive agreements with Pembrook Copper Corp. (“Pembrook”), Minera Andina de Exploraciones SAA (“MinAndex”) and Carlos Mauricio Carlessi Vargas (“Carlessi” and together with Pembrook and MinAndex, the “Vendors”) pursuant to which a total of 142,700,000 pre-Consolidation (as defined below) common shares of the Company plus approximately US$4.5 million in cash will be issued to the Vendors (the “Consideration”) to acquire and consolidate 100% of the Pecoy Copper Project (“Pecoy”), a large-scale copper porphyry project located on-trend with numerous prolific copper deposits in Southern Peru (the “Transaction”). Concurrent with completion of the Transaction, it is anticipated that the Company will complete a 5 for 1 share consolidation (the “Consolidation”) and change its name to Miko Copper Corp.

Key Points: 
  • Pecoy is an advanced copper exploration project located 177 km northwest of Arequipa within the Cretaceous copper porphyry belt of Peru, host to the Zafranal copper porphyry property (Teck Resources Ltd. and Mitsubishi Materials Corp.) located approximately 100 km to the southeast of Pecoy.
  • Pecoy is located within the Peruvian coastal desert region which grades into the Atacama desert further south in Chile.
  • Topography within the project area ranges from 700 m at the Rio Ocona, to slightly more than 4,000 m at the highest ridges.
  • The Pecoy project to be acquired by the Company comprises all rights and title to Pecoy currently held by the Vendors.