Whatcom Capital II Corp. and Terrazero Technologies Inc. Announce Execution of Definitive Agreement for Proposed Qualifying Transaction
Whatcom Capital II Corp. and Terrazero Technologies Inc. Announce Execution of Definitive Agreement for Proposed Qualifying Transaction
Vancouver, British Columbia--(Newsfile Corp. - February 1, 2023) - Further to its press release dated September 22, 2022, Whatcom Capital II Corp. (TSXV: WAT.P) ("Whatcom" or the "Corporation") and Terrazero Technologies Inc. ("TZ") are pleased to announce that they have entered into a definitive business combination agreement (the "Definitive Agreement") which, subject to certain conditions and applicable TSX Venture Exchange ("TSXV") approval, will result in the reverse takeover of Whatcom by TZ and will constitute Whatcom's "Qualifying Transaction" (the "Transaction"), as defined by TSXV Policy 2.4 - Capital Pool Companies ("Policy 2.4").
温哥华,不列颠哥伦比亚省-(Newsfile Corp.-2023年2月1日)-继2022年9月22日发布的新闻稿后,Whatcom Capital II Corp.(TSXV:WAT.P)(“Whatcom“或”公司“)和Terraero Technologies Inc.(”TZ“)很高兴地宣布,他们已经达成了一项最终的业务合并协议(”最终协议),在某些条件和适用的多伦多证券交易所创业板(“TSXV批准,将导致TZ对Whatcom的反向收购,并将构成Whatcom的“合格交易”(The交易记录“),如TSXV政策2.4所定义-资本池公司("政策2.4").
Summary of the Transaction
交易摘要
Pursuant to the Definitive Agreement, on closing of the proposed Transaction, it is expected that:
根据《最终协议》,在拟议的交易完成后,预计:
(i) Whatcom will consolidate (the "Consolidation") all of the then issued and outstanding common shares of the Corporation (the "Whatcom Shares") on the basis of one post-consolidation Whatcom Share for each previously outstanding 3.5 Whatcom Shares (such post-Consolidation Whatcom Shares the "Resulting Issuer Shares");
(I)Whatcom将合并(“整固“)本公司当时已发行及已发行的所有普通股(”Whatcom股票“)以每3.5股之前已发行的Whatcom股票换取一股合并后Whatcom股票的基础上(该等合并后Whatcom股票”由此产生的发行人股份");
(ii) All of the issued and outstanding preferred shares in the capital of TZ will be converted to common shares in the capital of TZ in accordance with TZ's constating documents;
(Ii)所有已发行及已发行的已发行及已发行优先股将根据天津开发区的常备文件转换为该公司股本中的普通股;
(iii) TZ and 1396032 B.C. Ltd., a wholly-owned subsidiary of Whatcom, will be amalgamated under the Business Corporations Act (British Columbia) (the "Amalgamation") and continue as one corporation called TZ Technologies Operating Corp. ("Amalco"), which will be a wholly-owned subsidiary of Whatcom;
(Iii)TZ与Whatcom的全资附属公司1396032 B.C.Ltd.将合并为《商业公司法》(不列颠哥伦比亚省)(合并“),并继续作为一家名为TZ Technologies Operating Corp.(”阿马尔科“),这将是Whatcom的全资子公司;
(iv) Whatcom will change its name to TerraZero Technologies Inc., (on a post-closing basis, the "Resulting Issuer");
(4)Whatcom将更名为TerraZero Technologies Inc.,(在交易结束后,最终的发行者");
(v) Holders of the common shares in the capital of TZ will receive one Resulting Issuer Share for each TZ share, and the TZ shares will be canceled; and
(V)持有天津开发区股本中普通股的人,每持有一股天津开发区股票,将获得一股由此产生的发行人股份,而该等发行股票将被注销;以及
(vi) Each outstanding option, warrant and broker warrant exercisable to acquire shares in the capital of TZ will be exchanged for one replacement option, warrant or broker warrant, as applicable, exercisable at the equivalent price to acquire a Resulting Issuer Share.
(Vi)为收购天津开发区股本中的股份而可行使的每一项未行使购股权证、认股权证及经纪认股权证,将交换为一份可按同等价格行使的替代购股权、认股权证或经纪认股权证(视何者适用而定),以收购所产生的发行人股份。
The parties to the Transaction are at arm's length and therefore the approval of the shareholders of Whatcom in respect of the Transaction will not be required.
交易各方保持一定距离,因此不需要获得Whatcom股东对交易的批准。
The completion of the Transaction is subject to, among others, the following conditions precedent be met prior to the closing of the Transaction: (a) TZ and the shareholders of TZ shall have tendered all closing deliveries contemplated in the Business Combination Agreement; (b) the shareholders of TZ shall have approved the Business Combination Agreement; (c) the board of directors of each of the Corporation and TZ shall have approved the Transaction; (d) the representations and warranties of each of Whatcom and TZ contained in the Business Combination Agreement shall be true and correct in all material respects at closing; (e) the Resulting Issuer Shares shall have been conditionally approved for listing on the TSXV, and the Transaction shall have been conditionally approved as a Qualifying Transaction by the TSXV, subject to the customary requirements of the TSXV in respect of transactions of the nature of the Transaction; (f) each of the covenants of Whatcom and TZ in the Business Combination Agreement shall have been fulfilled or complied with in all material respects at closing; (i) the existing directors and officers of Whatcom shall have tendered their resignation; and (j) Whatcom will have obtained all applicable authorizations to complete the Consolidation and the change of its name to TerraZero Technologies Inc.
交易的完成除其他条件外,还需满足以下交易完成前的先决条件:(A)TZ和TZ的股东应已提交企业合并协议中预期的所有结案交割;(B)TZ的股东应已批准企业合并协议;(C)公司和TZ的董事会应已批准交易;(D)商业合并协议中包含的Whatcom和TZ各自的陈述和担保在完成交易时应在所有重要方面真实和正确;(E)所产生的发行人股份应已获有条件批准于多伦多证券交易所上市,而交易将获多伦多证券交易所有条件批准为合资格交易,但须受多伦多证券交易所就交易性质的交易的惯常要求所规限;(F)业务合并协议中Whatcom及TZ的各项契诺于交易完成时应已在各重大方面获得履行或遵守;(I)Whatcom现有董事及高级职员将已递交辞呈;及(J)Whatcom将已获得所有适用授权以完成合并及将其名称更改为TerraZero Technologies Inc.。
Neither the Corporation nor TZ will be undertaking any financing in connection with the Transaction, and no finder's fees or commissions are payable in relation to the proposed Transaction.
本公司及天津开发区均不会就该交易进行任何融资,亦不会就拟进行的交易支付任何寻找人费用或佣金。
Other Significant Conditions to Closing
成交的其他重要条件
Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable pursuant to TSXV requirements, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or 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 capital pool company should be considered highly speculative. The TSXV has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.
交易的完成受制于若干条件,包括但不限于TSXV接纳及(如适用)根据TSXV的规定获得小股东的多数批准。在适用的情况下,在获得所需的股东批准之前,交易无法完成。不能保证这笔交易将按计划完成,或者根本不能保证。投资者请注意,除非在与交易相关的管理信息通告或备案声明中披露,否则所发布或收到的有关交易的任何信息都可能不准确或不完整,不应依赖。资本池公司的证券交易应被视为高度投机性。TSXV没有以任何方式传递拟议交易的优点,也没有批准或不批准本新闻稿的内容。
Information on Resulting Issuer
有关产生的发行者的信息
Following completion of the Transaction, the Resulting Issuer will carry on the business currently carried on by TZ. The Resulting Issuer will be a Technology issuer under the policies of the TSXV.
交易完成后,由此产生的发行人将继续经营目前由TZ经营的业务。根据TSXV的政策,由此产生的发行人将成为技术发行人。
It is expected that following completion of the Transaction, there will be an aggregate of 57,483,253 Resulting Issuer Shares outstanding, and 9,220,573 Resulting Issuer Shares will be reserved for issuance pursuant to convertible securities (options and warrants) of the Resulting Issuer. It is expected that following completion of the Transaction the current holders of Whatcom Shares will hold approximately 7.5% of the outstanding Resulting Issuer Shares and the holders of TZ shares will collectively hold approximately 92.5% of the outstanding Resulting Issuer Shares, all as calculated on a non-diluted basis immediately following the closing of the Transaction. Certain of the Resulting Issuer Shares will be subject to voluntary hold periods and TSXV escrow restrictions.
预计交易完成后,将有总计57,483,253股由此产生的发行人股票流出,9,220,573股由此产生的发行人股票将保留用于根据由此产生的发行人的可转换证券(期权和认股权证)进行发行。预计交易完成后,Whatcom股份的当前持有人将持有约7.5%的已发行结果发行人股份,而TZ股份的持有人将合计持有约92.5%的已发行结果发行人股份,所有这些都是按紧随交易完成后的非摊薄基础计算的。由此产生的某些发行者股票将受到自愿持有期和TSXV托管限制的限制。
To the knowledge of the directors and executive officers of the Corporation and TZ, the only person who will beneficially own, directly or indirectly, or exercise control or direction over 10% or more of the Resulting Issuer Shares is BIGG Digital Assets Inc. ("BIGG"), which will hold approximately 29% of the Resulting Issuer Shares. BIGG believes the future of crypto is a safe, compliant and regulated environment. BIGG invests in products and companies to support this vision. BIGG has three portfolio companies: Netcoins, Blockchain Intelligence Group and TerraZero.
据本公司董事及行政人员所知,Bigg Digital Assets Inc.(“Bigg Digital Assets Inc.”)将直接或间接实益拥有发行人股份的10%或以上,或直接或间接拥有发行人股份的10%或以上,或对其行使控制权或指挥。Bigg),将持有约29%的发行者股份。Bigg相信密码的未来是一个安全、合规和受监管的环境。Bigg投资于产品和公司以支持这一愿景。Bigg有三家投资组合公司:Netcoins、BlockChain Intelligence Group和TerraZero。
Management of the Resulting Issuer
对由此产生的发行人的管理
Subject to TSXV approval, upon completion of the Transaction, it is expected that the board of directors and the senior officers of the Resulting Issuer will be the following proposed individuals, and two additional independent directors who will be identified in the filing statement to be filed and posted on SEDAR with respect to the proposed Transaction:
根据TSXV的批准,交易完成后,预计最终发行人的董事会和高级管理人员将是以下建议的个人,以及另外两名独立董事,他们将在就建议的交易提交并张贴在SEDAR上的备案声明中确定:
Dan Reitzik - proposed Chief Executive Officer, and Director
丹·雷齐克 - 拟任首席执行官和董事
Mr. Reitzik is the founder, Chief Executive Officer and a director of TZ. Mr. Reitzik has years of experience, knowledge and understanding of blockchain, digital assets and cryptocurrency through his previous role as the co-founder and CEO of DMG Blockchain Solutions Inc. (from 2016 to March 2021), a vertically integrated blockchain and cryptocurrency company that manages, operates and develops end-to-end digital solutions to monetize the blockchain ecosystem.
雷采克是TZ的创始人、首席执行官和董事用户。Reitzik先生通过之前担任DMG BlockChain Solutions Inc.(从2016年至2021年3月)的联合创始人兼首席执行官的身份,在区块链、数字资产和加密货币方面拥有多年的经验、知识和理解。DMG BlockChain Solutions Inc.是一家垂直整合的区块链和加密货币公司,管理、运营和开发端到端数字解决方案,以实现区块链生态系统的货币化。
Ryan Cheung - proposed Chief Financial Officer, Corporate Secretary and Director
张瑞安 - 拟担任首席财务官、企业秘书和董事
Mr. Cheung is the Chief Financial Officer, Corporate Secretary and a director of TZ. Mr. Cheung, CPA, CA, is founder of MCPA Services Inc. Chartered Professional Accountants, providing accounting, management, securities regulatory compliance services to private and publicly-listed companies. Mr. Cheung also serves as an officer and/or director of a number of publicly-listed companies. Mr. Cheung holds a Bachelor of Commerce degree from the University of Victoria and is a member of the Chartered Professional Accountants of British Columbia. Mr. Cheung was previously worked alongside Dan Reitzik as the Chief Financial Officer of DMG Blockchain Solutions Inc. from September 2017 to July 2021.
张先生是天津置业的首席财务官、企业秘书和董事的董事。张先生,注册会计师,CA,是MCPA服务公司特许专业会计师的创始人,为私人和上市公司提供会计、管理和证券监管合规服务。张志熔还担任多家上市公司的高管和/或董事。张先生拥有维多利亚大学的商业学士学位,是不列颠哥伦比亚省特许专业会计师协会的成员。张先生曾在2017年9月至2021年7月期间与Dan Reitzik一起担任DMG区块链解决方案公司的首席财务官。
Ryan Kieffer - proposed Chief Metaverse Officer
瑞安·基弗 - 拟议数 首席元宇宙官
Mr. Kieffer is the Co-Founder of Bear NFT, a Metaverse marketing agency - and the Co-Founder of Confidential Creative, an animation studio and creative agency with an established portfolio of music videos and animation projects for the likes of Maroon 5, Journey, Carrie Underwood, Peacock Kids and more. As an expert in the Metaverse, Mr. Kieffer has leveraged both skill sets to produce several events including To the Moon Fest, Decentraland's first live music festival and Halloween Events. Mr. Kieffer brings a wealth of industry connections and leads many of the business development initiatives at TerraZero. Mr. Kieffer oversees many of TerraZero's business divisions and has operational knowledge and experience working within the Metaverse.
基弗是元宇宙营销机构Bear NFT的联合创始人,也是动画工作室和创意机构Confidential Creative的联合创始人,该公司已经建立了一系列音乐视频和动画项目,服务于Maroon 5、Journey、Carrie Underwood、《孔雀小子》等。作为元宇宙方面的专家,基弗利用这两项技能策划了多项活动,包括中秋节、法国第一个现场音乐节和万圣节活动。基弗先生拥有丰富的行业人脉,并领导了TerraZero的许多业务发展计划。基弗负责TerraZero的许多业务部门,并拥有在元宇宙内部工作的运营知识和经验。
Brandon Johnson - proposed Chief Experience Officer
布兰登·约翰逊-拟任首席体验官
Mr. Johnson oversees business development initiatives and oversees many TerraZero divisions. Mr. Johnson has led creative and execution for clients and projects in blockchain, VR/AR, gaming, animation, film and series television. Brandon has also managed freelance teams and helmed community development initiatives for freelance platforms. Mr. Johnson's vision is to bring elevated interactive experiences to the Metaverse through innovative technologies.
约翰逊先生负责业务发展计划,并负责TerraZero的多个部门。Johnson先生领导了区块链、VR/AR、游戏、动画、电影和电视连续剧等领域客户和项目的创意和执行工作。布兰登还管理过自由职业团队,并负责自由职业平台的社区发展计划。约翰逊先生的愿景是通过创新技术为元宇宙带来提升的互动体验。
Lance Morginn - proposed Director
兰斯·莫金-拟议中的董事
Mr. Morginn is a director of TZ. Mr. Morginn is the co-founder, President and a director of BIGG Digital Assets Inc. With over 20 years of industry experience in technology-based start-ups, he brings a vast and proven track record for growing and developing businesses from the ground-up. His background includes roles as Founder/CEO/Director in several publicly and privately traded companies.
莫金是TZ的董事粉丝。莫尔金是比格数字资产有限公司的联合创始人总裁,也是董事的一员。他在科技型初创企业领域拥有20多年的行业经验,在从无到有的企业成长和发展方面有着丰富而可靠的记录。他的背景包括在几家上市和非上市公司担任创始人/首席执行官/董事。
Adrian Glover - proposed Director
禤浩焯·格洛弗-拟议中的董事
Mr. Glover is a 20-year software industry professional, who has over 10 years of experience delivering software products as a Project and Development Manager. Mr. Glover is currently the Chief Technology Officer of DMG Blockchain Solutions Inc. and work alongside Mr. Reitzik and Mr. Cheung during their time at DMG Blockchain Solutions Inc. His experience began in research & development and includes one of the first connected mobile applications using Geographical Information System (GIS) technology for asset tracking on Windows CE. As a Project Manager, Adrian was certified as a Project Management Professional (PMP) and mentored new Project Managers in the trade. He has successfully introduced Agile Project and Product Management techniques to multiple companies using industry-standard tools and techniques. He has a track record of repeated success delivering products built on emerging technologies, including Big Data, VR, and Mobile VR.
格洛弗先生是一名有20年经验的软件行业专业人士,作为项目和开发经理,他拥有超过10年的软件产品交付经验。格洛弗先生目前是DMG区块链解决方案公司的首席技术官,在DMG区块链解决方案公司任职期间,他与Reitzik先生和Cheung先生一起工作。他的经验始于研发,包括在Windows CE上使用地理信息系统(GIS)技术进行资产跟踪的首批联网移动应用程序之一。作为一名项目经理,禤浩焯获得了项目管理专业人员资格认证,并在该行业指导了新的项目经理。他使用行业标准的工具和技术成功地向多家公司介绍了敏捷项目和产品管理技术。他在提供基于大数据、VR和移动VR等新兴技术的产品方面取得了多次成功。
Martin Cronin - proposed Director
马丁·克罗宁-拟议中的董事
Mr. Cronin spent over 20 years in international diplomacy with the British Government with appointments across the Middle East, South Asia, Europe and North America spanning counter-terrorism, conflict resolution, trade and inward investment. Following a posting as British Consul-General to Western Canada, Martin settled in British Columbia and joined the private sector, serving as CEO and Director of several private and public companies in the public safety and defence sectors, including as the former CEO and a director of Patriot One Technologies Inc. He is the Executive Chairman of Syniad Innovations Inc., which has a portfolio of ventures rooted in deep science. Martin is former Honorary Colonel of a Canadian Army Primary Reserve Regiment, Director of the Canadian Forces Liaison Council and Advisory Board Member of the Central Okanagan Regional Economic Development Commission. He is a frequent speaker on the Middle East and issues of international security.
克罗宁先生在英国政府的国际外交工作中工作了20多年,在中东、南亚、欧洲和北美地区担任职务,负责反恐、解决冲突、贸易和外来投资。在担任英国驻加拿大西部总领事后,马丁定居不列颠哥伦比亚省,加入私营部门,担任公共安全和国防领域几家私营和上市公司的首席执行官和董事公司的首席执行官,其中包括爱国者一号技术公司的前首席执行官和董事公司。他是Syniad Innovation Inc.的执行主席,该公司拥有一系列植根于深度科学的企业。马丁是加拿大陆军初级预备役团前名誉上校、加拿大军队联络委员会董事主席、中央奥卡纳根地区经济发展委员会顾问委员会成员。他经常就中东和国际安全问题发表演讲。
Sponsorship
赞助
Under the policies of the TSXV, the parties to the Transaction are required to engage a sponsor for the Transaction unless an exemption or waiver from this requirement can be obtained. Whatcom intends to make an application for a waiver from the TSXV's sponsorship requirements.
根据TSXV的政策,交易各方必须为交易聘请保荐人,除非可以获得豁免或豁免这一要求。Whatcom打算申请豁免TSXV的赞助要求。
Additional Information
附加信息
Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with 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 capital pool company should be considered highly speculative. Whatcom will issue additional news releases related to the post-closing capitalization of the Resulting Issuer, financial information regarding TZ, and other material information as it becomes available.
请投资者注意,除非在与交易相关的备案声明中披露,否则发布或收到的有关交易的任何信息都可能不准确或不完整,不应依赖。资本池公司的证券交易应被视为高度投机性。Whatcom将发布与由此产生的发行人的收盘后资本、关于TZ的财务信息以及其他重要信息相关的更多新闻稿。
Neither the TSX Venture Exchange, Inc. nor its Regulation Services Provider (as that term is defined in the polices of the TSX Venture Exchange) has in any way passed upon the merits of the Transaction and associated transactions and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
多伦多证券交易所创业板交易所及其监管服务提供商(该术语在多伦多证券交易所创业板政策中定义)均未以任何方式传递交易及关联交易的优点,上述实体均不对本新闻稿的充分性或准确性承担责任,也未以任何方式批准或不批准本新闻稿的内容。
For further information, please contact:
如需更多信息,请联系:
Whatcom Capital II Corp.
Darren Tindale, CEO, CFO, Corporate Secretary and Director
Telephone: (604) 376-3567
Whatcom Capital II Corp.
达伦·廷代尔,首席执行官、首席财务官、公司秘书兼董事
电话:(604)376-3567
Cautionary Statements
警示声明
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the proposal to complete the Transaction and associated transactions, including statements regarding the terms and conditions of the Transaction, the business plans and objectives of TZ and the Resulting Issuer, expectations for other economic, business and competitive factors and approval of regulatory bodies. The information about TZ contained in the press release has not been independently verified by the Corporation. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Corporation can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the parties will not proceed with the Transaction; the Transaction and associated transactions will differ from those that currently are contemplated; and that the Transaction and associated transactions will not be successfully completed for any reason (including the failure to obtain the required approvals or clearances from regulatory authorities). The terms and conditions of the Transaction may change based on the Corporation's due diligence and the receipt of tax, corporate and securities law advice for the parties to the Transaction.
本新闻稿包含与完成交易和相关交易的提议有关的适用证券法所指的“前瞻性信息”,包括有关交易的条款和条件、TZ的业务计划和目标以及由此产生的发行人、对其他经济、商业和竞争因素的预期以及监管机构的批准的声明。新闻稿中包含的关于天津开发区的信息尚未得到该公司的独立核实。虽然本公司根据其高级管理人员及董事的经验、目前情况及预期未来发展及其他被认为适当的因素,相信该前瞻性资料所反映的期望是合理的,但不应过分依赖该等预期,因为本公司不能保证该等预期将被证明是正确的。提醒读者不要过度依赖前瞻性信息。实际结果和发展可能与这些陈述所预期的大不相同,这取决于(其中包括)各方不继续进行交易的风险;交易和关联交易与当前预期的交易不同;以及交易和关联交易因任何原因(包括未能获得监管机构所需的批准或批准)而无法成功完成。交易的条款和条件可能会根据公司的尽职调查以及收到对交易各方的税务、公司和证券法建议而发生变化。
The statements in this press release are made as of the date of this release. The common shares have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
本新闻稿中的陈述是在本新闻稿发布之日作出的。普通股没有也不会根据修订后的《1933年美国证券法》进行登记,如果没有登记或获得登记要求的适用豁免,不得在美国发行或出售普通股。本新闻稿不应构成出售要约或征求购买要约,也不应在任何司法管辖区出售任何此类要约、征求或出售将是非法的证券。
Not for distribution to United States newswire services or for dissemination in the United States
不得分发给美国通讯社或在美国境内传播
To view the source version of this press release, please visit
要查看本新闻稿的源版本,请访问