AIM4 Ventures Inc. Announces Closing of Initial Public Offering
July 04 2019 - 7:53AM
AIM4 Ventures Inc. (TSXV: AIMD.P) (the “Corporation” or “AIM4”), is
pleased to announce that it has completed its initial public
offering (the “Offering”) today of 5,000,000 common shares in the
capital of the Corporation (“Common Shares”) at a purchase price of
$0.10 per Common Share by way of a prospectus for gross proceeds of
$500,000.
“The successful completion of our IPO represents
an important step in AIM4’s ability to deliver superior shareholder
returns” commented Zachary Goldenberg, CEO of AIM4. “With a team of
dedicated and disciplined industry professionals, who established
the AIM Ventures series of Capital Pool Companies, namely
AIM1-James E. Wagner Cultivation (completed), AIM2-Canopy Rivers
(completed) and AIM3-Southern Sun Pharma (in process), AIM4 looks
forward to identifying quality targets in high growth industries
seeking access to the public capital markets,” Goldenberg further
stated.
The Corporation is a Capital Pool Company (as
defined in the policies of the TSX Venture Exchange (the
“Exchange”)). To date, the Corporation has not conducted operations
of any kind and has not entered into an “Agreement in Principle”,
as such term is defined in Exchange Policy 2.4 – Capital Pool
Companies.
When combined with the Corporation’s cash
proceeds raised prior to the Offering ($465,000 in seed financing
as more fully described in the Corporation’s prospectus dated May
7, 2019), the Corporation has raised total gross proceeds of
$965,000 and has a total of 10,650,000 Common Shares issued and
outstanding, of which 2,850,000 Common Shares are being held in
escrow. The net proceeds will be used to identify and evaluate
assets of businesses for acquisition with a view to completing a
“Qualifying Transaction” under the Capital Pool Company program of
the Exchange.
Haywood Securities Inc. (the “Agent”) acted as
agent in connection with the Offering. For its services, the Agent
received an administrative fee, a cash commission equal to 10% of
the gross proceeds of the Offering as well as options to purchase
up to 500,000 Common Shares at an exercise price of $0.10 per
Common Share, exercisable within twenty-four months from the
listing of the Common Shares on the Exchange.
In addition, the Corporation granted an
aggregate of 1,065,000 stock options to its directors and officers
at an exercise price of $0.10 per share for a period of five years
from the date of grant.
Zachary Goldenberg, Chief Executive Officer of
AIM4, participated in the Offering. All Common Shares purchased by
Mr. Goldenberg in the Offering will be subject to escrow pursuant
to the policies of the Exchange.
The Common Shares were admitted for trading on
the Exchange and will be trading under the symbol “AIMD.P”.
Demonstrating its forward-thinking commitment to
cutting-edge technologies in every instance, the Corporation used
the proprietary DealMakerTM software in its seed financing round
(www.dealmaker.tech).
Dentons Canada LLP acted as legal counsel to the
Corporation and Peterson McVicar LLP acted as counsel to the
Agent.
For more information, please contact Zachary
Goldenberg, the Chief Executive Officer of the Corporation.
Zachary Goldenberg, CEO zach@libertyvp.co(647)
987-5083
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION: This news release includes certain "forward-looking
statements" under applicable Canadian securities legislation.
Forward-looking statements include, but are not limited to,
statements with respect to the satisfaction of conditions and the
resumption of trading of AIM4’s common shares. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors which may cause
the actual results and future events to differ materially from
those expressed or implied by such forward-looking statements. Such
factors include, but are not limited to: general business,
economic, competitive, political and social uncertainties; delay or
failure to receive shareholder or regulatory approvals; and the
results of continued development, marketing and sales. There can be
no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
AIM4 disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
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