Advised Wildpack Beverage (TSXV: CANS) in its going public transaction, which constituted a “qualifying transaction” within the meaning of the TSX Venture Exchange policies. The transaction involved a reverse take over of former capital pool company Ponderous Panda Capital Corp. by way of a three-cornered amalgamation.
During the 1st quarter of 2021, Wildpack closed equity financings for gross proceeds of C$2.8 million through simple agreements for future equity. Furthermore, the Company conducted a concurrent financing with its go-public transaction. On May 17, 2021 Wildpack completed the concurrent financing, brokered private placement transaction, releasing escrow conditions on the subscription receipts. The gross proceeds of the transaction were C$7.1 million. As at March 31, 2021, a certain round of investors, converted their subscription receipts immediately into shares and warrants, for gross proceeds of C$1.35 million.
Wildpack is engaged in beverage manufacturing and packaging, operating in the middle market by providing can filling and decorating services to brands throughout the United States. Wildpack currently operates indirectly through its wholly owned subsidiaries and out of facilities in Baltimore, Maryland, Sacramento, California and Las Vegas, Nevada. Wildpack commenced trading on May 19, 2021 on the TSX Venture Exchange under the symbol "CANS.V".
Wildpack was advised by a team co-led by Jon Conlin and Gordon Raman, and included Gabriel Lam and Mark Kopitar.
Jurisdictions
- British Columbia
- Alberta
