GTEC Holdings Ltd. (TSXV: GTEC) (the “Company”), formerly Black Birch Capital Acquisition III Corp. (TSXV: BBC.H), is pleased to announce that it completed its previously announced business combination (the “Transaction”) between the Company and GreenTec Holdings Ltd. (“GreenTec”). In connection with the Transaction, the Company consolidated its common shares on the basis of one post-consolidation share for each 12 pre-consolidation shares (the “Consolidation”) and changed its name to “GTEC Holdings Ltd.”. The Transaction will constitute the Company’s “Qualifying Transaction” pursuant to Policy 2.4 of the TSX Venture Exchange (the “Exchange”) and the Company will carry on the business of GreenTec.
The Exchange issued its conditional approval of the Transaction on May 25, 2018. The Company’s post-Consolidation common shares (the “Common Shares”) will resume trading on the Exchange under the new ticker symbol “GTEC” after the Exchange’s conditions for listing are satisfied and the Exchange issues its final exchange bulletin confirming the completion of the Transaction. The Company, in due course, will advise when the Common Shares will resume trading. For the investors who settled directly with the GreenTec, the Company expects that the TSX Trust will deliver the physical share certificates by the end of next week.
The focus of the Company’s business going forward will be growing, marketing and retailing cannabis in Canada.
Additional information in respect of the Company’s business is available in the Company’s Filing Statement dated May 29, 2018, which is available under the Company’s SEDAR profile at www.sedar.com.
The Company acquired all of the issued and outstanding shares of GreenTec through a three-cornered amalgamation involving a wholly-owned subsidiary of the Company and GreenTec. Pursuant to the Transaction, the Company issued to the shareholders of GreenTec an aggregate of 84,560,916 Common Shares. Outstanding GreenTec common share purchase warrants by their terms become exercisable for an aggregate Continue Reading