Trail Blazer sees Juno increase financing to $10M

Executive Summary

• Juno Industries Inc. has upsized its non-brokered concurrent subscription receipt financing from $7 million to $10 million in connection with its proposed amalgamation with Trail Blazer Capital Corp.
• The financing involves the issuance of up to 12.5 million subscription receipts at $0.80 per receipt, with net proceeds designated for corporate initiatives, M&A, and general corporate purposes.
• The transaction involves the acquisition of 100% of Juno Industries shares by Trail Blazer, with subscription receipts automatically converting into Trail Blazer common shares (post 1-for-6 consolidation) upon completion, subject to escrow release conditions.

Key Details

• Financing Amount: Upsized from $7 million to $10 million gross proceeds.
• Instrument: Subscription receipts.
• Quantity: Up to 12.5 million subscription receipts.
• Price: $0.80 per subscription receipt.
• Use of Proceeds: To finance various corporate initiatives, mergers and acquisitions, and general corporate purposes of the resulting issuer following the completion of the proposed transaction.
• Conversion Terms: Subscription receipts automatically convert into Juno shares prior to the effective time of the acquisition. Upon completion of the amalgamation, holders receive one common share in the capital of Trail Blazer (following a 1-for-6 share consolidation) for no additional consideration, subject to satisfaction of escrow release conditions.
• Finder’s Fees: Up to 5% of gross proceeds ($500,000 based on $10M).
• Finder’s Warrants: Up to 5% of the number of subscription receipts issued (approx. 625,000 warrants).
• Warrant Terms: Exercisable at $0.80 per share for a period of 24 months from the completion of the proposed transaction.
• Target Listing: Expected to list as a Tier 2 industrial, technology, and life science issuer on the exchange upon completion.
• Transaction Structure: Amalgamation of Juno Industries Inc. with a wholly owned subsidiary of Trail Blazer Capital Corp., resulting in the acquisition of 100% of Juno Industries shares.
• Conditions Precedent: Exchange acceptance, majority of minority shareholder approval (if applicable), and satisfaction of other standard conditions.

Notable Quotes

• None provided in the text.