Intrinsic4D LLC completed the acquisition of Maple Power Capital Corporation in a reverse merger transaction.
The deal is subject to completion of the private placement, completion of the consolidation and name change, the satisfaction of Maple Power and Intinsic4D in respect of the due diligence investigations to be undertaken by each party, receipt of audited financial statements of Intrinsic4D, the negotiation and execution of a definitive agreement, approvals of all regulatory bodies having jurisdiction in connection with the transaction, exchange acceptance, and, if required by the exchange policies, majority of the minority shareholder approval and customary closing conditions. In connection with the closing of the transaction, Maple Power will seek shareholder approval for a consolidation of its share capital on a basis of four pre-consolidated shares for one post-consolidated share and to change its name to Intrinsic4D Inc. Upon completion of the transaction, the resulting issuer intends to be listed, at a minimum, as a Tier 2 technology issuer under the rules of the exchange.
Intrinsic4D LLC entered into a definitive agreement to acquire Maple Power Capital Corporation in a reverse merger transaction on March 6, 2015. Intrinsic4D is expected to be the resulting issuer in the transaction. The shareholders meeting are expected to be held on May 14, 2015. The transaction is expected to close in May 2015. As on May 14, 2015, Maple Power Capital Corporation shareholder approved the transaction, approved the appointment of To-Hon Lam, David Mitchell, David Brown, Jessica Jingjie Zhang, Allan Siu Kin Fok, Derek S.K. Ng and Raymond Siu Cheong Lai as directors of the Maple Power Capital Corporation to hold office until the earlier of the close of the next annual meeting of shareholders of the Maple Power Capital Corporation or the closing of the transaction, elected Jorey Chernett, John Banta, Sandy Kronenberg, Mark Klopp, David Mitchell and Chris Schnarr as the directors of Maple Power Capital Corporation to hold office from the closing of the transaction until the next annual meeting of the shareholder of Maple Power Capital Corporation, approved the new stock option plan to take effect upon the closing of the transaction, approved the change of name of Maple Power Capital Corporation to Intrinsic4D Inc. and amend the authorized share structure of Maple Power Capital Corporation to create a new class of unlimited "Class B Restricted Voting Shares.
Tom Rose, Shona Smith and Lisa Raines of Troutman Sanders acted as the legal advisor to Intrinsic4D LLC. TMX Equity Transfer Services acted as transfer agent for Maple Power Capital Corporation. Andrew Powers and Linda Tu of Borden Ladner Gervais LLP acted as legal advisors to Intrinsic4D.
Intrinsic4D LLC completed the acquisition of Maple Power Capital Corporation in a reverse merger transaction on June 12, 2015. As a result of reverse merger, Maple Power Capital Corporation will be known as Intrinsic4D LLC. Intrinsic4D completed a private placement of subscription receipts conducted by Mackie Research Capital Corporation, as agent. Pursuant to the private placement, Intrinsic4D issued 2.7 million subscription receipts at a price of CAD 0.53 per subscription receipt for total gross proceeds of CAD 1.45 million. New common shares are expected to resume trading on the TSXV under the symbol IFD as Intrinsic4D LLC (TSXV:IFD) on June 19, 2015.