Stack Capital Group Inc. Announces Best Efforts Financing for Up to $15,000,000
Executive Summary
- Stack Capital Group Inc. announced a “best efforts” private placement to raise up to C$15 million in gross proceeds.
- The offering consists of two tranches: the LIFE Offering (up to 466,666 units for C$8.75 M) and a Concurrent Private Placement (up to 333,334 units for C$6.25 M).
- Each unit includes one common share and one‑quarter of a common‑share purchase warrant exercisable at C$23.00 per share for 24 months.
Key Details
- Units & Pricing
- LIFE Offering: 466,666 units @ C$18.75 per unit → up to C$8,750,000 gross proceeds.
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Concurrent Private Placement: 333,334 units @ C$18.75 per unit → up to C$6,250,000 gross proceeds.
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Warrant Terms
- One‑quarter warrant per unit; each full warrant allows purchase of one common share at C$23.00.
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Warrants exercisable for 24 months after the closing date; subject to adjustment on certain events.
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Management Participation
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Company management intends to subscribe for a minimum of C$1,000,000 of units under the Concurrent Private Placement.
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Lead Agent & Syndicate
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Canaccord Genuity Corp. appointed as lead agent and sole bookrunner; will form a syndicate of agents.
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Listing Intentions
- Application filed with the Toronto Stock Exchange to list Unit Shares, Warrants, and Warrant Shares.
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No guarantee that warrant distribution requirements will be satisfied.
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Exemptions & Resale Restrictions
- LIFE Offering relies on the listed‑issuer financing exemption (NI 45‑106) for Canadian investors (excluding Québec).
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Units offered to U.S. and other non‑Canadian investors under applicable exemptions; no resale restrictions for LIFE units.
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Use of Proceeds
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Net proceeds will be allocated to investments consistent with the Company’s investment principles and for general corporate and working‑capital purposes.
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Closing Timeline & Conditions
- Expected closing on or about March 31, 2026, subject to approvals (including TSX) and other customary conditions.
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Closing of each tranche is independent; not conditional on the other.
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Fees
- Cash fee to agents: 5.0% of gross proceeds at closing.
- Corporate finance fee to Lead Agent: C$100,000 payable at closing.
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No commission for purchases under the “President’s List” (up to C$2 M).
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Related‑Party Participation
- Insiders may participate; reliance on exemptions from MI 61‑101 valuation and minority‑shareholder approval because insider interest will be ≤25% of market cap.
Notable Quotes
(No direct quotes were provided in the release.)