MONTREAL, Jan. 11, 2022 (GLOBE NEWSWIRE) – (CSE: EMER) Émergia Inc. (the “ Society ” Where ” Emergia “) Is pleased to announce that she has completed a fence (the” fencing ”) Of its previously announced private placement. On January 10, 2022, the Company issued an additional 4,857,020 units (as defined below) and 250,000 common shares in the private placement for a total amount of $ 3,454,930.40, comprising 546,862, $ 80 in cash and $ 2,908,067.60 in payment of debts of the Company.
Each unit, issued at $ 0.68 per unit, is made up of one class A common share in the capital of the Company (a ” ordinary share “) And a common share purchase warrant (a” subscription “) Authorizing the holder to purchase one common share at a price of $ 1.25 per share until October 31, 2023. The common shares will be listed on the Canadian Stock Exchange (the” CSE “).
“This fence is a great addition to the $ 3,000,000 fences announced at the end of October and November. And, as this closing includes the conversion of a significant portion of the accumulated compensation of directors and management and the conversion of debts by creditors, it once again demonstrates confidence in the strength and future of the Company. ”Said Henri Petit, President and CEO of Emergia.
During this closing, the Company issued 1,256,434 units to subscribers who are related parties of Emergia under NI 61-101 (“ Regulation 61-101 “). Émergia is exempt from the formal requirements for the assessment and approval of minority shareholders provided for in Regulation 61-101 by virtue of the exemptions provided for in sections 5.5 (a) and 5.7 (1) (a) of Regulation 61-101 in that the fair market value of the consideration for the securities of the Company to be issued to interested persons does not exceed 25% of its market capitalization.
As part of this closing and in accordance with the prospectus exemption in section 2.14 of Regulation 45-106 respecting prospectus exemptions, Mr. Henri Petit, President and Chief Executive Officer of the Company, settled a debt of $ 492,739.56, comprising advances made to the Company and accrued and unpaid indemnities, in exchange for the issuance of 724,617 units. Prior to this closing, Mr. Petit held, directly or indirectly, or exercised control or direction over 6,356,621 ordinary shares and 1,000,000 category B multi-voting shares, representing respectively 22.62% of the issued and in circulation and 22.17% of the issued and outstanding Class B multi-voting shares. Following the closing, Mr. Petit will hold, directly or indirectly, or exercise control or direction over 7,081,238 ordinary shares and 1,000,000 class B multi-voting shares, representing respectively 21.33% of the issued ordinary shares and outstanding and 22.17% of the issued and outstanding Class B multi-voting shares. In the future, Mr. Henri Petit may acquire ownership and control of additional securities of Emergia for investment purposes.
This press release is also being disseminated in accordance with National Instrument 62-103 respecting early warning systems and issues relating to takeover bids and insider reports in connection with an early warning report to be filed on SEDAR. . The Company’s head office is located at 402-185 avenue Dorval, Dorval, (Quebec) H9S 5J9.
ABOUT EMERGIA INC.
Émergia operates mainly in Canada in the development, acquisition and management of multi-rental commercial, multi-residential, industrial and office buildings, as well as land for future development. The Company’s investment platform is based on an integrated, agile and efficient development strategy for holding purposes, allowing EMERGIA to benefit from development-related profits and added value while guaranteeing stable long-term returns. .
For more information, please visit www.emergia.com and www.sedar.com. EMER.CN
Source: Émergia Inc.
For more information, please contact:
Henri Petit
President and CEO
T: 1.888.520.1414 (Ext. 231)
E: [email protected]
Forward-looking information
This press release contains forward-looking information within the meaning of applicable securities laws. Information and statements that are not statements of historical fact in this press release constitute forward-looking information. The forward-looking nature of statements and information is recognized by the use of words such as “towards”, “about”, “potential”, “project” or by the use of verbs such as “believe”, “expect”. à ”,“ intend to ”,“ plan ”,“ foresee ”,“ estimate ”,“ continue ”, in the future or in the conditional, or expressions or similar terms, including in the negative form. This forward-looking information includes, in particular, statements with respect to the effect of the Covid-19 pandemic on the Company’s financial situation, the planned closing of the placement of the units, the strategy and business plans, as well as the objectives of the Company or aimed at the Company. Forward-looking information is based on certain fundamental expectations and assumptions made by the Company, including expectations and assumptions regarding compliance with all closing conditions, the fact that no termination rights have been exercised and the timing of the termination. obtaining and obtaining regulatory approval for the private placement and the availability of sources of capital. Although the Company believes that the expectations and assumptions on which this forward-looking information is based are reasonable, they should not be relied on unduly since there can be no assurance that they will prove to be correct. Actual results could be materially different from those currently expected due to a number of factors and risks, including the effect of the Covid-19 pandemic on the financial condition of the Company, the real estate industry and the Company. the market for shares as a whole, the volatility of share prices and other risks generally attributable to the activities of the Company. For further information with respect to risks and uncertainties, you may consult the Company’s annual MD&A for the year ending December 31, 2020 filed on SEDAR at www.sedar.com.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT ATTRIBUTE UNDUE IMPORTANCE TO FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY ON SUCH INFORMATION OF ANY OTHER DATE. ALTHOUGH THE COMPANY MAY CHOOSE TO DO SO, IT DOES NOT COMMIT TO UPDATE THIS INFORMATION AT ANY TIME, UNLESS NECESSARY, IN ACCORDANCE WITH APPLICABLE SECURITIES LAW.
