Original News Release
Aim6's QT target ElevateDesign closes $7.93M offering
Mr. Aaron Unger reports
AIM6 VENTURES AND ELEVATE SERVICE GROUP ANNOUNCE CLOSING OF SUBSCRIPTION RECEIPT OFFERING
Aim6 Ventures Inc.'s qualifying transaction target ElevateDesign Ventures Inc. has completed the previously announced brokered private placement of subscription receipts led by Beacon Securities Ltd. and a syndicate of agents for gross proceeds of $7,938,000. The offering was completed in connection with the proposed business combination between Aim6 and Elevate detailed in the press release of Aim6 dated Oct. 8, 2025, which transaction is intended to constitute Aim6's qualifying transaction pursuant to Policy 2.4 of the TSX Venture Exchange to ultimately form the resulting issuer and the listing of the resulting issuer common shares on the TSX-V.
The company intends to change its name to Elevate Service Group Inc. upon completion of the transaction and has applied to be listed as a Tier 1 industrial issuer on the TSX-V under the ticker SERV. The transaction is expected to be completed in October, 2025.
The offering
Under the terms of the offering and pursuant to an agency agreement dated Oct. 9, 2025, among Elevate, Aim6 and the agents, Elevate issued 7,938,000 subscription receipts at a price of $1 per subscription receipt for gross proceeds of $7,938,000. The net proceeds of the offering will be used to support the acquisitions of Infinity Group Construction Inc. and First Choice Maintenance Inc. in connection with the transaction, for investments in technology, building and fleet, to support potential acquisitions, and for working capital and general corporate purposes.
Each subscription receipt will automatically convert into one common share of Elevate on the satisfaction or waiver of all conditions precedent to the transaction and certain other ancillary conditions customary for transactions of this nature, without the payment of additional consideration or the taking of further action on the part of the subscriber.
The net proceeds of the offering will be held in escrow pending the satisfaction of the release conditions. In the event the transaction does not occur on or before Feb. 6, 2026, the gross proceeds of the offering shall be returned to the purchasers pro rata without any deduction or interest, and the subscription receipts shall be automatically cancelled.
Upon completion of the transaction, each share issued pursuant to the offering will automatically be exchanged for one resulting issuer common share.
Pursuant to the agency agreement, the agents received a cash commission of $201,610 and a corporate finance fee of $119,000 (a portion of which has been escrowed pending the satisfaction of the release conditions). The agents also received 334,410 options, each of which entitles the holder to acquire one share at an exercise price of $1 per share for two years following the satisfaction of the release conditions. On closing of the transaction, the compensation options will be exchanged for options to purchase the resulting issuer common shares having the same exercise price and expiry date as the compensation options.
Unless permitted under securities legislation, all securities issued pursuant to the offering are subject to a hold period ending on the date that is four months and a day after the later of: (i) Oct. 9, 2025; and (ii) the date that Elevate became a reporting issuer in any province or territory. The resulting issuer common shares received in exchange for the shares are expected to be freely tradable and not subject to a hold period upon completion of the transaction.
Filing statement
In connection with the transaction and pursuant to TSX-V requirements, the corporation will file a filing statement on SEDAR+, which will contain details regarding the transaction, the offering, the corporation, Elevate and the resulting issuer.
About Aim6 Ventures Inc.
Aim6 was incorporated under the Ontario's Business Corporations Act on Jan. 13, 2021, and is a capital pool company (as defined in the policies of the TSX-V) listed on the TSX-V. Aim6 has no commercial operations and no assets other than cash.
All information provided in this press release relating to Elevate has been provided by management of Elevate and has not been independently verified by management of the company.
Completion of the transaction is subject to a number of conditions, including but not limited to TSX-V acceptance. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the filing statement (or other applicable disclosure document) of Aim6 to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete, and should not be relied upon. Trading in the securities of Aim6 should be considered highly speculative.
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