Delica Wash cancelled the acquisition of Ocean Shore Capital Corp. (TSXV:OCAP.P).
Concurrently with the Qualifying Transaction, the Company is required to complete a brokered or non-brokered private placement of common share for minimum gross proceeds of CAD 2 million at a price of CAD 0.12 per unit. The Financing is conditional upon Exchange approval and concurrent completion of the Transaction. Closing of the Transaction is subject to the customary conditions respecting sponsorship, regulatory and shareholder approvals (if required), due diligence, execution of a definitive share exchange agreement, completion of the Name Change, closing of the Financing, consummation of private placement, third party approval, resignation of target's directors, listing/approval of new shares on stock exchange, shareholder approval of Delica Wash and closing conditions customary to transactions of the nature of the Transaction, approvals of all regulatory bodies having jurisdiction in connection with the Qualifying Transaction and Exchange regulatory approval. Closing of the Transaction is required to occur by May 31, 2023. As on May 1, 2024, subject to satisfactory completion of due diligence, the parties expect to close the proposed transaction on or before June 30, 2023. The financial for DelicaWash as at December 31, 2022, stands at CAD 0.02 million in revenue; CAD 0.527 million in total Assets and CAD 0.143 million in total liabilities.
Delica Wash cancelled the acquisition of Ocean Shore Capital Corp. (TSXV:OCAP.P) on June 30, 2023.