Good Life qualifying transaction, private placements
2018-01-30 17:12 PT – Qualifying Transaction
Effective at the opening on Wednesday, Jan. 31, 2018, the common shares of Good Life Networks Inc. (GLN) will commence trading on the TSX Venture Exchange, and the common shares of Exito Energy II Inc. will be delisted.
Qualifying transaction
The TSX Venture Exchange has accepted for filing Good Life Networks’ (formerly Exito Energy II) qualifying transaction (QT) described in its information circular dated March 31, 2017, and addendum thereto dated May 11, 2017. As a result, at the opening on Wednesday, Jan. 31, 2018, the company will no longer be considered a capital pool company. The qualifying transaction includes the following.
The QT consists of the arm’s-length acquisition of all shares of GLN for consideration of 26,058,696 shares of the resulting issuer at 25 cents per resulting issuer share ($6,514,674), pursuant to an amended and restated arrangement agreement between GLN and Exito dated Jan. 31, 2017, as amended.
For further information on the qualifying transaction, please refer to the company’s information circular and addendum available on SEDAR.
The exchange has been advised that the above transaction has been completed.
The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced on Sept. 29, 2017.
Number of shares: 141,321,044 subscription receipts of GLN (Each subscription receipt entitled the holder thereof to receive, upon automatic exchange and without payment of additional consideration or further action by the holder thereof, one common share of GLN. Pursuant to the QT, each underlying share was exchanged for 0.2601 resulting issuer share.)
