Aim6's QT target ElevateDesign closes $7.93M offering

Executive Summary

• ElevateDesign Ventures Inc. (the qualifying transaction target of Aim6 Ventures Inc.) has closed a brokered private placement of subscription receipts, raising gross proceeds of $7,938,000.
• The financing is integral to the proposed business combination between Aim6 and Elevate, which aims to form a new entity named Elevate Service Group Inc. and list on the TSX Venture Exchange under the ticker SERV.
• Proceeds are designated for the acquisition of Infinity Group Construction Inc. and First Choice Maintenance Inc., as well as technology/fleet investments, potential acquisitions, and working capital.

Key Details

• Gross Proceeds: $7,938,000.
• Instrument: 7,938,000 subscription receipts issued at $1.00 per receipt.
• Lead Agent: Beacon Securities Ltd. and a syndicate of agents.
• Use of Proceeds:
  • Acquisition of Infinity Group Construction Inc.
  • Acquisition of First Choice Maintenance Inc.
  • Investments in technology, building, and fleet.
  • Support for potential future acquisitions.
  • Working capital and general corporate purposes.
• Conversion Terms: Each subscription receipt automatically converts into one common share of Elevate upon satisfaction/waiver of conditions precedent, with no additional consideration required.
• Escrow and Refund: Net proceeds held in escrow. If the transaction does not close by February 6, 2026, gross proceeds are returned to purchasers pro rata without deduction or interest, and receipts are cancelled.
• Post-Transaction Exchange: Shares issued via the offering will automatically exchange for one resulting issuer common share upon completion.
• Agent Compensation:
  • Cash commission: $201,610.
  • Corporate finance fee: $119,000 (partially escrowed).
  • Options: 334,410 options granted to agents, exercisable at $1.00 per share for two years following the satisfaction of release conditions.
• Hold Period: Securities are subject to a hold period ending four months and one day after the later of October 9, 2025, or the date Elevate became a reporting issuer. Resulting issuer common shares are expected to be freely tradable upon transaction completion.
• Corporate Changes: Aim6 intends to change its name to Elevate Service Group Inc. and apply for Tier 1 industrial issuer status on the TSX-V.

Notable Quotes

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