AmWolf Capital and Pontus Water Lentils Enter Into Letter Of Intent For Qualifying Transaction
Posted on November 21, 2019
VANCOUVER, Nov. 21, 2019 /CNW/ – AmWolf Capital Corp. (“AmWolf” or the “Company“) (TSXV: AMW.P) a capital pool company (“CPC“) as defined under Policy 2.4 – Capital Pool Companies (“Policy 2.4“) of the TSX Venture Exchange (the “Exchange“), is pleased to announce it has entered into a letter of intent dated November 15, 2019 (the “LOI“) with Pontus Water Lentils Ltd. (“Pontus“), a private company incorporated under the Canada Business Corporations Act, pursuant to which AmWolf and Pontus (each, a “Party” and together, the “Parties“) have agreed to complete a plan of arrangement, amalgamation, or other statutory procedure (the “Transaction“) whereby AmWolf will acquire all of the issued and outstanding common shares of Pontus (collectively, the “Pontus Shares“). The precise terms of the Transaction, including the structure of the Transaction, will be incorporated into a definitive transaction agreement (the “Definitive Agreement“) to be negotiated between the Company and Pontus. In connection with the Transaction, Pontus intends to complete a non-brokered private placement to raise minimum gross proceeds of $2,000,000 (the “Private Placement“).
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