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Mira IV Acquisition completes qualifying transaction with Profound Medical

Fasken
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Confidential Client

On June 4, Mira IV Acquisition Corp. (“Mira IV”) and Profound Medical Inc. (“Profound”) completed a qualifying transaction (the “Transaction”) pursuant to Policy 2.4 - Capital Pool Companies of the TSX Venture Exchange (the “Exchange”). The Transaction was structured as a “three-cornered” amalgamation as a result of which Profound became a wholly-owned subsidiary of Mira IV, and the shareholders of the amalgamated entity became shareholders of Mira IV. Prior to the amalgamation, Mira IV changed its name to “Profound Medical Corp.”, the common shares of which are now trading on the Exchange under the symbol “PRN”. Prior to the closing of the Transaction, Profound completed a private placement (the “Private Placement”) of subscription receipts (the “Subscription Receipts”) conducted by a syndicate of agents led by GMP Securities LP and Cormark Securities Inc. and including Bloom Burton & Co. and Mackie Research Capital Corporation (the “Agents”). Pursuant to the Private Placement, Profound issued 16,005,885 Subscription Receipts at a price of $1.50 per Subscription Receipt for total gross proceeds of $24,008,827.50. Each Subscription Receipt was exchanged for one common share of Profound, which common shares were then exchanged for common shares of Profound Medical Corp. Mira IV was advised in the Transaction by a team led by Tracy Hooey and included Mitchell Thaw (tax), Justine Connors and David Steinhauer (corporate/securities) and Jon Holmstrom (banking). The Agents were advised in the Private Placement by a team led by Rubin Rapuch and including Jessica Catton and Gordon Hunter (corporate/securities).

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