On November 15, 2021, Green Scientific Labs Holdings Inc. (“GSL”) completed a reverse takeover of Prominex Resource Corp. (the “RTO”) pursuant to a business combination agreement and plan of merger. The RTO was effected by way of a merger under the laws of the State of Delaware. In connection with the RTO, GSL completed a non-brokered private placement of subscription receipts for aggregate gross proceeds of approximately US$4.5 million. Following completion of the RTO, GSL was listed on the Canadian Securities Exchange with a market capitalization of approximately US$56 million.
Fasken advised GSL with a team that included John Sabetti, Zach Austin, George Soules and Alexis Shamess (M&A/Securities) and Mitchell Thaw (Tax).