VANCOUVER, British Columbia – December 10, 2019 – Metron Capital Corp. (TSXV:MCN) (“Metron” or the “Company”) is pleased to announce that it has closed the second and final tranche (the “Final Tranche”) of its previously announced subscription receipt financing on September 19, 2019 (the “Financing”). The Final Tranche consisted of a total of 870,499 subscription receipts sold at a price of $0.35 per subscription receipt for gross proceeds of $304,674.65. In aggregate, Metron collected gross proceeds of $2,816,974.30 through the issuance of 8,048,498 subscription receipts in the Financing, which amount Metron has agreed with INEO Solutions Inc. (“INEO”) will be the updated minimum gross proceeds of the Financing to close the proposed business combination with INEO.
In connection with the closing of the Final Tranche, the Company will pay a cash finder’s fee of up to 5 percent of the total value of the subscription receipts sold and share purchase warrants of up to 5 percent of the number of subscription receipts sold. The closing of the Financing remains subject to final TSX-Venture Exchange approval and any other regulatory approvals required by applicable securities law.
All securities issued in connection with the Financing will be subject to a hold period of four months and one day from the date of issuance.
On behalf of the Board of Directors of Metron Capital Corp.
Gurminder Sangha, President and CEO
Neither the TSX-Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX-Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to timing and completion of the balance of the subscription receipt financing.
In connection with the forward-looking information contained in this news release, Metron has made numerous assumptions regarding, among other things: TSX-Venture Exchange approval for the financing and any other regulatory approvals required by applicable securities law. While Metron considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause Metron’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: TSX-Venture Exchange approval and other regulatory approval may not be obtained on a timely basis, or at all; general economic conditions in Canada, the United States and globally; industry conditions; unanticipated operating events; competition for and/or inability to retain services and inputs; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; and changes in tax laws and incentive programs. A more complete discussion of the risks and uncertainties facing Metron is disclosed Metron’s continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Metron disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.