Wildlaw Capital CPC 2 Inc. and AcuityAds Inc. Announce Closing of Overallotment Option
16 Maggio 2014 - 6:37PM
Marketwired
Wildlaw Capital CPC 2 Inc. and AcuityAds Inc. Announce Closing of
Overallotment Option
Exercise of overallotment option in full brings total gross
proceeds of private placement to $5.75 million
TORONTO, ONTARIO--(Marketwired - May 16, 2014) - Wildlaw Capital
CPC 2 Inc. ("Wildlaw CPC 2") (TSX-VENTURE:WLD.P), a capital pool
company, and AcuityAds Inc. ("Acuity"), a provider of proprietary
targeted digital advertising, are pleased to announce the full
exercise of the overallotment option in connection with Acuity's
previously announced private placement (the "Offering"). Acuity
previously issued 3,318,778 subscription receipts (the
"Subscription Receipts") on April 24, 2014, at $1.59 per
Subscription Receipt, for aggregate gross proceeds of approximately
$5.3 million. Acuity today issued an additional 297,574
Subscription Receipts for aggregate gross proceeds of approximately
$450,000 (the "Second Closing"). The completion of the Second
Closing brings the aggregate gross proceeds of the Offering to
$5.75 million. The Offering was made pursuant to an agency
agreement dated April 24, 2014 with a syndicate led by Paradigm
Capital Inc., and including Clarus Securities Inc. and Euro Pacific
Canada.
The Offering was completed in connection with the proposed
business combination of Wildlaw CPC 2 and Acuity (the
"Transaction"). If completed, the Transaction will constitute
Wildlaw CPC 2's qualifying transaction pursuant to the policies of
the TSX Venture Exchange (the "TSXV"). In connection with the
Transaction, the common shares of Acuity will be converted into
common shares of Wildlaw CPC 2 following the Transaction (the
"Resulting Issuer"). Assuming the escrow release conditions for the
Subscription Receipts are satisfied, each Subscription Receipt will
ultimately entitle the holder thereof to one common share of the
Resulting Issuer.
The Transaction remains subject to a number of terms and
conditions set forth in the definitive agreement between Wildlaw
CPC 2 and Acuity relating thereto, including the approval of the
TSXV. For a detailed description of the Transaction, please refer
to the press release of Wildlaw CPC 2 dated April 24, 2014.
About Wildlaw CPC 2
Wildlaw CPC 2 is a capital pool company (CPC) formed under the
TSXV CPC program.
About Acuity
Acuity is a technology company that has developed a proprietary
Programmatic Marketing Platform to intelligently connect digital
advertisers to consumers across online display, mobile, social and
video advertising channels, and solve the key challenges that
digital advertisers face. The Programmatic Marketing Platform is
powered by Acuity's proprietary machine learning technology that
uses Big Data to intelligently target and connect digital
advertisers with consumers. Acuity has offices in Canada and the
United States, and its customers include both large Fortune 500
enterprises and small to mid-sized businesses.
Completion of the Transaction is subject to a number of
conditions, including but not limited to, TSXV acceptance. There
can be no assurance that the transaction will be completed as
proposed or at all.
All information in this press release concerning Acuity has
been provided for inclusion herein by Acuity. Although Wildlaw CPC
2 has no knowledge that would indicate that any information
contained herein concerning Acuity is untrue or incomplete, Wildlaw
CPC 2 assumes no responsibility for the accuracy or completeness of
any such information.
Investors are cautioned that, except as disclosed in the
filing statement to be prepared in connection with the Transaction,
any information released or received with respect to the
Transaction may not be accurate or complete and should not be
relied upon. Trading in the securities of a CPC should be
considered highly speculative.
Neither TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this release.
Certain information in this press release may constitute
forward-looking information, including without limitation the
completion of the Transaction, as well receipt of all necessary
approvals in connection therewith. This information is based on
current expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results might
differ materially from results suggested in any forward-looking
statements. Wildlaw CPC 2 assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward
looking-statements unless and until required by securities laws
applicable to Wildlaw CPC 2. Additional information identifying
risks and uncertainties is contained in the Wildlaw CPC 2's filings
with the Canadian securities regulators, which filings are
available at www.sedar.com.
Wildlaw Capital CPC 2 Inc.Peter SchriberChief Executive
Officer(604) 341-3371
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