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Arizona Copper and Gold Inc. and Core Nickel Corp. Announce Launch of Brokered Financing of up to $10 Million
Newsfile· 2025-10-02 15:28
Core Viewpoint - Arizona Copper and Gold Inc. (ACG) is launching a brokered private placement of subscription receipts for gross proceeds of up to $10 million in connection with a proposed reverse takeover of Core Nickel Corp. [1][2] Offering Details - The Offering will be a best-efforts private placement at a price of $1.50 per Subscription Receipt, with an option for agents to offer an additional $1.5 million, potentially raising total gross proceeds to $11.5 million [2]. - Each Subscription Receipt will convert into one ACG Unit, consisting of one common share and one-half of one purchase warrant, upon satisfaction of certain conditions [3]. - The exercise price for each ACG Warrant is set at $2.00 per share, valid for two years from the Offering's closing date [3]. Financial Arrangements - ACG will pay agents a cash fee of 6.0% of the gross proceeds from the sale of Subscription Receipts, with half paid at closing and the remainder held in escrow [4]. - Agents will also receive broker warrants equal to 6.0% of the number of Subscription Receipts sold [6]. Closing Timeline - The Offering is expected to close around November 13, 2025, with proceeds held in escrow pending the satisfaction of release conditions [7]. Use of Proceeds - The net proceeds from the Offering are intended to fund exploration activities and for working capital and general corporate purposes by the Resulting Issuer [8]. Regulatory Compliance - The Subscription Receipts will be offered to investors in Canada, the United States under exemptions, and in other jurisdictions in compliance with applicable laws [9].
Cora Capital Corp. Announces Letter of Intent In Respect of Reverse Takeover of Tiger Financial Corporation
Thenewswire· 2025-08-19 21:00
Core Viewpoint - Cora Capital Corp. and Tiger Financial Corporation have entered into a non-binding letter of intent for a reverse takeover, with Cora expected to acquire all issued and outstanding securities of Tiger in exchange for Cora's securities, leading to a public listing on the Canadian Securities Exchange [1][2][4]. Company Overview - Tiger Financial is a fintech and digital banking company focused on providing AI-powered banking, payments, and lending solutions to small businesses in Southeast Asia, particularly Vietnam, with plans to expand into other markets [3]. - The company is led by Ben Aissa, who has over 20 years of experience in building financial technology ventures globally [3]. Transaction Details - The transaction involves Cora acquiring all securities of Tiger, making Tiger a wholly owned subsidiary of Cora, with an anticipated completion date around November 28, 2025 [4][21]. - Upon closing, Tiger shareholders will receive 28,500,000 common shares of Cora, representing 54.7% of the issued shares post-transaction [5][21]. Financing Plans - Cora plans to conduct a private placement financing to raise C$1.15 million by issuing 4,600,000 common shares at C$0.25 each, with Tiger shareholders expected to subscribe for C$150,000 [7]. - A concurrent private placement of 6,600,000 special warrants is also planned, aiming to raise approximately C$3.3 million [10][11]. Conditions and Milestones - The completion of the transaction is contingent upon various conditions, including regulatory approvals and the successful closing of the Bridge Financing and Concurrent Financing [20]. - Tiger shareholders may receive additional shares based on performance milestones, such as expanding operations into new Southeast Asian countries and achieving revenue targets [15][17]. Leadership and Governance - The Resulting Issuer will have a board of directors comprising members from both Cora and Tiger, with Ben Aissa serving as CEO [25][26]. - The leadership team includes experienced professionals with backgrounds in fintech, capital markets, and corporate governance [28][30][31]. Market Position and Strategy - The Resulting Issuer aims to leverage its position in the rapidly growing Southeast Asian market, targeting over 62 million under-banked small businesses [3]. - The strategic focus will be on enhancing its AI-powered digital banking platform and expanding into new markets to accelerate growth [33].