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Aumento Capital VIII Corp. and Eddy Smart Home Solutions Inc. Announce Conditional Approval for Qualifying Transaction
Toronto, Ontario–(Newsfile Corp. – January 10, 2022) – Aumento Capital VIII Corp. (TSXV: AMU.P) (“Aumento“) and Eddy Smart Home Solutions Inc. (“Eddy“) are pleased to announce that Aumento has received conditional approval from the TSX Venture Exchange (the “TSXV“) for its Qualifying Transaction (as such term is defined in the policies of the TSXV), pursuant to which Aumento and Eddy will combine their respective businesses (the “Transaction“).
The Transaction remains subject to the final approval of the TSXV and satisfaction of closing conditions customary for transactions of this nature. Aumento, upon and subject to completion of the Transaction (the “Resulting Issuer“) will continue under the name “Eddy Smart Home Solutions Ltd.” and trade on the TSXV under the symbol “EDY”. The Transaction is expected to close on or around January 12, 2022. For more information, please see the press release of the parties issued on September 13, 2021.
Further to the press releases of the parties dated September 15, 2021 and October 13, 2021, the proceeds from Eddy’s brokered private placement of 20,513,768 subscription receipts (the “Eddy Subscription Receipts“) at a price of $0.60 per subscription receipt (for aggregate gross proceeds of $12,308,260) will be released from escrow immediately prior to the closing of the Transaction. In addition, each Eddy Subscription Receipt will convert into two common shares of Eddy immediately prior to the closing of the Transaction.
Aumento has filed a filing statement dated January 6, 2022 (the “Filing Statement“) with the TSXV and on SEDAR. Additional information in respect of the Transaction, Eddy and the private placement can be found in the Filing Statement.
About Eddy
Eddy was incorporated under the laws of the Province of Ontario and has been operating since 2015. Eddy provides residential and commercial smart water metering products and related technologies, helping property owners protect, control, and conserve water usage by combining water sensing devices with behavioural learning software.
About Aumento
Aumento is a capital pool company as defined under the TSXV Policy 2.4 – Capital Pool Companies. Aumento was incorporated under the Business Corporations Act (Ontario) on November 20, 2020. The common shares of Aumento are listed for trading on the TSXV under the stock symbol “AMU.P”, which shares were halted for trading on June 21, 2021, pending completion of the Transaction. Aumento has not commenced commercial operations other than to enter into discussions for the purpose of identifying potential acquisitions or interests.
Further financial information on Aumento is publicly available on SEDAR at www.sedar.com. Aumento is a “reporting issuer”, as defined in applicable Canadian securities legislation, in the provinces of Alberta, British Columbia, and Ontario.
In this press release, all references to “$” are to Canadian dollars.
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This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States or any other jurisdiction.
THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT) UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.
Notice regarding forward-looking statements:
This press release includes forward-looking statements regarding Aumento, Eddy, the Resulting Issuer and their respective businesses, which may include, but is not limited to, statements with respect to the completion of the Transaction, the terms on which the Transaction is intended to be completed, the ability to obtain regulatory approvals and other factors. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “is expected”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations of the management of each entity. The forward-looking events and circumstances discussed in this press release, including completion of the Transaction may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the technology industry, failure to obtain regulatory or shareholder approvals, economic factors, the equity markets generally and risks associated with growth and competition. Although Aumento and Eddy have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aumento and Eddy undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, other than as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information concerning Aumento Capital VIII Corp., please contact:
Paul Pathak, Director
Tel: 416.644.9964
For further information concerning Eddy Smart Home Solutions Inc., please contact:
Travis Allan, President, Chief Executive Officer and Director
Tel: 416.560.0234
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109639