![]() ![]() Subject to adjustment as described in the amalgamation agreement, it is intended that First Responder shares will be issued to holders of Airbeam shares on the basis of 9.78 First Responder shares for every one Airbeam share, resulting in the issuance of 679,699,408 First Responder shares to the shareholders of Airbeam. The amalgamated corporation resulting from the amalgamation of First Responder Subco and Airbeam will be wholly owned by the resulting issuer. ![]() The shareholders of Airbeam will receive common shares of First Responder in exchange for their Airbeam shares, resulting in a reverse takeover of First Responder by the Airbeam shareholders. Pursuant to the amalgamation agreement, the parties plan to complete a three-cornered amalgamation whereby a newly incorporated wholly owned subsidiary of First Responder will amalgamate with Airbeam, and First Responder will acquire all of the outstanding Airbeam shares. Airbeam is in the process of preparing audited financial statements and will provide a summary of significant financial information in due course. There are currently 69,498,917 common shares in the capital of Airbeam (including 4.5 million restricted shares) and 669,999 common share purchase warrants outstanding.Īirbeam, a developer of 5G-enabled smart city technologies, sells a proprietary 60-gigahertz millimetre wave chipset, hardware and software, which cost in excess of $110-million (U.S.) to develop by a leading semiconductor company from which it was acquired.Īs of the date hereof, Airbeam has not prepared financial statements. or such other name determined by the parties.Īirbeam is a private company existing under the laws of British Columbia and is based in Richmond, B.C. Upon successful completion of the proposed transaction, it is anticipated that the resulting entity will focus primarily on the business of Airbeam under the name Airbeam Technologies Inc. The proposed transaction is an arm's-length transaction. The proposed transaction will constitute a fundamental change for the company pursuant to the rules and policies of the Canadian Securities Exchange. in respect of a proposed reverse takeover transaction. has entered into a definitive agreement dated March 2, 2021, with Airbeam Wireless Technologies Inc. First Responder signs definitive deal to buy AirbeamįIRST RESPONDER AND AIRBEAM WIRELESS TECHNOLOGIES ENTER INTO DEFINITIVE AMALGAMATION AGREEMENTįirst Responder Technologies Inc. ![]()
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