BRAINGRID LIMITED ANNOUNCES DEBT SETTLEMENT AGREEMENT WITH EUROPEAN HIGH GROWTH OPPORTUNITIES SECURITIZATION FUND - Seite 2
A material change report in respect of the Transaction will be filed less than 21 days before closing of the Transaction as the closing date was not settled until shortly prior to closing and the Company wished to complete the Transaction in an expeditious manner for sound business reasons.
The Company requested, and was granted by the CSE, relief from the minimum price requirement, and the Transaction was completed at the 20 day volume-weighted-average-price.
All securities issued under the Transaction are subject to a four month and one-day restricted resale period expiring on August 9, 2020 in accordance with the policies of the CSE and applicable securities laws.
National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues requires a report to be filed with regulatory authorities in which the Company is a reporting issuer containing information with respect to the foregoing matters (the “Early Warning Report”). A copy of the Early Warning Report will appear at www.sedar.com under the Company’s profile.
The Shares were acquired by EHGOSF for investment purposes. Depending on market and other conditions, EHGOSF may, directly or indirectly, acquire ownership or control over additional securities of the Company, through open market or through private acquisitions or sell securities of the Company either on the open market or through private dispositions in the future depending on market conditions and/or other relevant factors.
The address of EHGOSF is:
European High Growth Opportunities Securitization Fund
25 Hanover Square, 2nd and 6th Floor
London W1S 1JF
United Kingdom
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About Braingrid:
Braingrid is a global technology company committed to the best interests of the precision agriculture industry for the long term. We provide valuable grow analytics by capturing real-time data using our technology platform to increase revenues, reduce costs, risks and improve yield - making it easier for the grower to operate efficiently and effectively. The Company is listed on the CSE under the symbol BGRD.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
Media Contact:
Braingrid Limited
Doug Harris
Chief Financial Officer
416-480-2488
ir@braingrid.io
www.braingrid.io