Financings
Logica Ventures receives conditional TSX-V OK for QT
LOG · Price
Executive Summary
- Logica Ventures Corp. received conditional TSX‑V approval for its qualifying transaction with BBG Metals Corp., targeting a closing around Oct 24 2025.
- BBG Metals completed a non‑brokered private placement, raising $1.8 million via 18 million subscription receipts; proceeds are held in escrow pending deal completion.
- Upon consummation, the combined entity will operate as Galactic Gold Corp., with up to ~49.38 million issuer shares outstanding and free‑trading under NI 45‑106 exemptions.
Key Details
- Conditional Approval: TSX Venture Exchange conditionally approved Logica’s qualifying transaction with BBG Metals per Policy 2.4 (Capital Pool Companies).
- Filing Statement: Filed on Oct 20 2024 on SEDAR+, covering the transaction details.
- Closing Timeline: Expected closing on or about Oct 24 2025, subject to regulatory approvals and customary conditions.
- Post‑Combination Entity: Will continue BBG Metals’ business as “Galactic Gold Corp.” (ticker GGAU), a Tier 2 mining issuer.
- Concurrent Financing: BBG Metals closed a non‑brokered private placement raising $1.8 million from 18 million subscription receipts.
- Subscription Receipt Terms: Each receipt converts, without additional payment, to one BBM common share (later exchanged for a post‑consolidation Logica share) upon escrow release conditions.
- Finder Fees Paid: $62,085 total – Canaccord Genuity ($17,550), Haywood Securities ($8,100), Ventum Financial ($33,810), Red Cloud Securities ($2,625).
- Escrow Arrangement: Net proceeds (gross minus finder fees) placed in escrow; release contingent on satisfaction of closing conditions. If not released by Nov 14 2025, funds returned to receipt holders and receipts cancelled.
- Resulting Share Count: Up to 49,382,778 issuer shares expected post‑closing, including the 18 million from the financing.
- Exemption Utilized: Shares issued under the business combination/reorganization exemption of NI 45‑106; will be free‑trading upon closing.
Notable Quotes
(No direct quotes were provided in the release.)