From Financialpost · · 50s
Birchtree Investments Announces Subscription Receipt Financing
Birchtree Investments plans $500k-$1.1m private placement for Digital Motion acquisition.
In brief
Birchtree Investments plans $500k-$1.1m private placement for Digital Motion acquisition. Birchtree Investments Ltd. will issue subscription receipts to raise up to $1.1m for its Digital Motion acquisition. Originally reported by Financialpost.
Birchtree Investments
Birchtree Investments Ltd. announces a proposed non-brokered private placement of subscription receipts.
Subscription Receipts
Minimum 2.5 million subscription receipts at $0.20 each for gross proceeds of $500,000 to $1.1 million.
Conversion Terms
Each subscription receipt converts automatically into one common share upon shareholder approval and CSE approval.
Escrow Conditions
Gross proceeds held in escrow until December 31, 2026, or cancellation if conditions not met.
Investor Restrictions
Subscription receipts not registered under U.S. Securities Act and cannot be offered in the United States.
Funding Purpose
Net proceeds will cover transaction costs, Digital Motion business, and working capital.
The headline
Birchtree Investments Ltd. will issue subscription receipts to raise up to $1.1m for its Digital Motion acquisition.
