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Resinco CP (RIN.TO) - Neustart mit langfristiger Erfolgsaussicht - Die letzten 30 Beiträge

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Resinco enters LOI to merge with Gen X in RTO

2019-08-13 17:58 ET - News Release

Mr. Alexander Somjen reports


Resinco Capital Partners Inc. and Gen X Biosciences Corp. have entered into a letter of intent to complete a business combination by way of a reverse takeover by the shareholders of Gen X. Upon completion of the RTO transaction, the combined entity will continue to carry on the business of Gen X. The closing of the RTO transaction is subject to the receipt of all necessary approvals, including, without limitation, regulatory approval for the listing of the common shares of the resulting issuer on the Canadian Securities Exchange. The LOI was negotiated at arm's length and is effective Aug. 12, 2019.

In connection with the RTO transaction, Gen X intends to complete a private placement of subscription receipts to raise aggregate gross proceeds of not less than $2-million. Subject to any necessary regulatory approvals, Resinco has also agreed to provide a loan to Gen X, in the amount $150,000, for working capital purposes.

Description of Gen X

Gen X Biosciences is a cannatech firm focused on using innovative technology and scalable extraction methodologies to deliver premium cannabis products, specifically best-in-class distillate to the world.

Gen X was built on its scientific approach to extracting cannabis products and uses its proprietary molecular perfection system to distill cannabis oil several times until the final product has THC (tetrahydrocannabinol) potency of over 90 per cent. The scalability of Gen X's technology allows it to sustain adaptable production capacity. Shea Alderete, the chief executive officer, chief scientific officer and co-founder of Gen X, has over 15 years of experience in creating high-quality products, and learned his trade with some of the first premium cannabis brands, such as Moxie -- the first company in California to receive a temporary licence in the now-legal cannabis market.

Private placement of subscription receipts

In connection with the RTO transaction, Gen X will conduct a private placement basis to sell not fewer than 3,333,333 subscription receipts at a price of 60 cents per subscription receipt, for aggregate gross proceeds of not less than $2-million.

Each subscription receipt shall entitle the holder to receive, upon satisfaction of certain escrow release conditions and without payment of additional consideration, one resulting issuer share. The final terms of the offering remain subject to final negotiation between Gen X and the private placement investors.

Net proceeds of the offering will be used to finance the buildout of Gen X's Long Beach facility and for general working capital purposes.

Terms of the RTO transaction

The RTO transaction is expected to be completed by way of an amalgamation between Gen X and a subsidiary of Resinco, following which the resulting issuer will continue the business of Gen X and will change its name to Gen X Biosciences Corp. or such other name as may be determined by Gen X. The parties anticipate entering into a definitive amalgamation agreement by the end of August, following the completion of satisfactory due diligence. The RTO transaction constitutes an arm's-length transaction under the policies of the exchange.

As of the date hereof, Resinco has 122,186,007 Resinco shares outstanding, as well as an aggregate of 37,384,304 convertible securities to acquire Resinco shares. Prior to the completion of the RTO transaction, the Resinco shares will be consolidated on the basis of one new Resinco share for 30 old Resinco shares, with the Resinco convertible securities adjusted accordingly, resulting in approximately 4,072,867 Resinco shares outstanding on a non-diluted postconsolidation basis.

Upon completion of the RTO transaction and following the consolidation, the holders of Gen X common shares will receive one resulting issuer share for every two common shares held. Gen X currently has 123,048,000 common shares outstanding (not including shares to be issued upon conversion of the subscription receipts).

Any convertible securities of Gen X then outstanding (including any warrants issuable upon the automatic exchange of the subscription receipts) shall be exchanged on the same economic basis, for equivalent securities of the resulting issuer.

Subject to the receipt of applicable regulatory approvals, the resulting issuer will pay a finder's fee to certain third parties in connection with the RTO transaction.

Management and directors of the resulting issuer

When the RTO transaction is completed, it is anticipated that the board of directors of the resulting issuer shall be reconstituted to consist of such directors as Gen X shall determine, and each of the officers of Resinco shall resign and be replaced with officers appointed by the new board of directors. Further details will be provided in subsequent news releases, as such appointments have been agreed.

Conditions to the RTO transaction

The RTO transaction is subject to the satisfaction of customary closing conditions, including as follows:

Each of Resinco and Gen X obtaining any requisite director and shareholder approvals, including for the RTO transaction;
In the case of Resinco, shareholder approval for the consolidation and necessary changes to its board of directors;
Completion of the consolidation;
The disposition of certain assets and investments currently held by Resinco, on terms acceptable to Gen X;
The completion of due diligence investigations to the satisfaction of each of Resinco and Gen X;
Completion of the offering on terms satisfactory to Gen X and Resinco;
Payment of the finder's fee;
Resinco and Gen X entering into the definitive agreement;
All requisite regulatory and stock exchange approvals relating to the RTO transaction and exchange approval for the listing of the resulting issuer shares having been obtained.

Additional information regarding the RTO transaction

The transaction will constitute a change of business under the rules of the exchange. The final legal structure for the RTO transaction will be determined after the parties have considered all applicable tax, securities law and accounting efficiencies.

Resinco and Gen X shall use their commercially reasonable efforts to complete the RTO transaction by Oct. 31, 2019.

We seek Safe Harbor.

© 2019 Canjex Publishing Ltd. All rights reserved.

Resinco Capital Partners | 0,015 €

Vancouver, BC, July 30, 2019 – At the request of IIROC, Resinco Capital Partners Inc. (CSE: RIN, OTC: RSCZF, FRANKFURT: L6V1) (the “Company” or “Resinco”), wishes to confirm that management is unaware of any corporate development, news, or undisclosed material changes to the Company, or its operations, that would account for the recent increase in the company’s share price and trading volume.

Resinco continues to engage in investment opportunities and has no information to disclose.

Resinco Capital Partners | 0,035 €
Was sind denn hier eigentlich für Pfeifen am Werk ? Reine Abzocker, wer läst die denn an der Börse zu ??
Resinco Capital Partners | 0,0086 €
Ich sag mir abwarten wie es im April 2020 aussieht ! Wenn sie nur auf 25-30 Cent hoch gehen wäre ich zufrieden. Aber dieses Jahr wird das nix mehr das is klar.
Antwort auf Beitrag Nr.: 60.714.569 von erti am 01.06.19 21:25:55
Zitat von erti: ja . nix los hier .

die wkn von Blockchain würde mich mal interessieren in der Resinco die 8 millionen gesteckt hat

welche wohl nur noch 400000 wert sein sollen .

Meinst Du die Buden hier (31.12.2018):

Block X Capital Corp. 286,933 St. 5,020,527 CAD -> 14,346 CAD
Global Blockchain Technologies Corp. 8,333,333 St. 2,500,000 CAD -> 454,333 CAD


Sieht nicht gerade seriös aus, waren das mal letztlich Pleite gegangene Explorer?
ja . nix los hier .

die wkn von Blockchain würde mich mal interessieren in der Resinco die 8 millionen gesteckt hat

welche wohl nur noch 400000 wert sein sollen .
Ist ja ein dolles Forum hier und Neuigkeiten gibt es seit März wohl auch keine ...?
hat Bitte mal jemand die WKN von Global Blockchain Technologies Corp.
Gibt es diese Firma eigentlich noch oder werden hier nur Dir Reste verramscht ...?!
meine herren . jetzt 0,04can cent .

wie sind denn die beteiligungen ?

oderdasOxfort projekt ?
ich sag mal billiger sind die in D nicht . also kaufe ich lieber in can wenn das angebot nah am kurs ist .
Antwort auf Beitrag Nr.: 60.595.363 von erti am 18.05.19 12:58:52
Zitat von erti: da ich den letzten kauf getätigt habe , 76000 aus dem ask , müsste der kurs bei 0,055 stehen .

da wird der makler sich 300 euro von mir auf den zahn gelegt haben .

Macht es bei dem Wahnsinns-Spread überhaupt Sinn, in D zu kaufenß
da ich den letzten kauf getätigt habe , 76000 aus dem ask , müsste der kurs bei 0,055 stehen .

da wird der makler sich 300 euro von mir auf den zahn gelegt haben .
die darstellung stimmt nicht . vor meinem kauf wurden schon 41000 gehandelt .

erst zu 0,055 cent dann zu wurde wieder zu 0,05 im ask angeboten , die wollte ich haben war aber zu spät , und hab dann aus dem ask ( angeboen waren 151000 zu 0,055 ) gekauft .

die angegebenen 81000 gehandelten stimmen nicht .

ist mir aber schon öfter aufgefallen das käufe manchmal nicht richtig angezeigt wreden .
auf CSE zu 0,055 cent . aus dem ask .

hatte selber immer gegukt wann aktualisiert wird ( sollte ja nach c. 15 min )

wurde aber nie richtig dargestellt . selbst der kurs blieb auf 0,05 can cent .
Antwort auf Beitrag Nr.: 60.592.031 von erti am 17.05.19 17:57:49
Zitat von erti: hab mal 76000 nachgelegt

Wo denn, etwa hier?

Israel: Das Gesundheitsministerium wechselt seine Haltung gegenüber Cannabis
Redaktion w:o | 17.05.2019 | 11:30
Foto: Lino Mirgeler /dpa
Das Gesundheitsministerium wird den Zugang zu medizinischen Cannabis erleichtern. Nach den neuen Richtlinien werden Fachärzte in der Lage sein, entsprechende Produkte, wie jedes andere Medikament, zu verschreiben.

Am Donnerstag gab das Ministerium bekannt, dass es Cannabis aus seiner Liste der Gefahrstoffverordnungen entfernen würde, ein Schritt, der es Apotheken ermöglichen würde, mit dem Verkauf von Cannabis zu beginnen.
was ist eigentlich los mit resinco ?

sind die beteiligungen so schlecht ?
Antwort auf Beitrag Nr.: 60.412.116 von LeoSchnee am 24.04.19 13:51:41
Zitat von LeoSchnee: Weiß jemand warum in der PM von vorige Woche 180 Therapeutics und nicht Katexco Pharmaceuticals erscheint, haben die jetzt 3 Unternehmen im Portfolio?


Noch was gefunden:

Weiß jemand warum in der PM von vorige Woche 180 Therapeutics und nicht Katexco Pharmaceuticals erscheint, haben die jetzt 3 Unternehmen im Portfolio?


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