Britannia Enters into Definitive Agreement with Rise Life Science to "Go Public" via Reverse Takeover of Rise Life Science
Retrieved on:
Monday, May 3, 2021
b'Toronto, Ontario--(Newsfile Corp. - May 3, 2021) - Britannia Bud Canada Holdings Inc. (d/b/a Britannia Life Sciences) ("Britannia") and RISE Life Science Corp. (CSE: RLSC) ("RISE") are pleased to announce that Britannia, RISE and 2830026 Ontario Inc. ("RISE Subco"), a wholly-owned subsidiary of RISE, have entered into a business combination agreement dated April 30, 2021 (the "Definitive Agreement") in respect of their previously-announced transaction.
Key Points:
- b'Toronto, Ontario--(Newsfile Corp. - May 3, 2021) - Britannia Bud Canada Holdings Inc. (d/b/a Britannia Life Sciences) ("Britannia") and RISE Life Science Corp. (CSE: RLSC) ("RISE") are pleased to announce that Britannia, RISE and 2830026 Ontario Inc. ("RISE Subco"), a wholly-owned subsidiary of RISE, have entered into a business combination agreement dated April 30, 2021 (the "Definitive Agreement") in respect of their previously-announced transaction.
- "\nThe Definitive Agreement was executed among Britannia, RISE and the RISE Subco, a wholly-owned subsidiary of RISE incorporated under the Business Corporations Act (Ontario) (the "OBCA").
- Each Britannia Convertible Debenture Unit was comprised of US$1,000 principal amount of 10% 2-year convertible senior unsecured debentures ("Britannia Debentures") of Britannia and 645 share purchase warrants of Britannia ("Britannia Warrants").
- According to their terms, the Britannia Debentures will automatically convert into Britannia Shares at the Britannia Debenture Conversion Price immediately prior to the RTO.\nThe Definitive Agreement was negotiated at arm\'s length between representatives of Britannia and RISE.