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At the same time, Tantalus announced the completion of a financing of approximately CAD 8.8 million through a private placement of subscription income, which will eventually be exchanged for shares of the publicly traded company. The financing, managed by Canaccord Genuity and Cormark Securities as Joint Book Runners and PI Financial, included contributions from several institutional technology funds and small investors. Upon announcement of these two events, Tantalus and RiseTech will submit a bid statement to the TSX-Venture Exchange to obtain approval for the combined company`s public listing. Tantalus Systems has reached a definitive agreement to merge with RiseTech Capital Corp., a TSX Venture Exchange-listed capital pool company. When your company issues a long-form prospectus, we accept the TSX List Cross-sectional application form that is referred to that prospectus, provided that you also have the necessary documentation and that you can prove that the public distribution requirements are met. Minimum financial requirements and public distribution requirements vary by category of the applicant company. Candidate companies are classified in one of three categories: Industrial (General); Mining or oil and gas. Trust funds such as Exchange Traded Funds (ETFs), Split Share Corporations, Income Trusts, Investment Funds and Limited Partnerships are listed in the Industrial (General) category. If the primary nature of a business is not different, the TSX will classify the entity as a listing category after auditing its financial statements and other documents. As a general rule, a candidate company, once listed on the stock exchange, must have at least one million free shares, with a total market value of at least $4 million, held by at least 300 public shareholders each holding at least one boardlot (100 shares).

NORWALK, Conn.–(BUSINESS WIRE)-Smart Grid Technology Leader Tantalus Systems announced today that it has entered into a definitive merger agreement with RiseTech Capital Corp., a private equity firm listed on the TSX Venture Exchange, and has entered into simultaneous financing to support the company`s balance sheet to support and accelerate several strategic growth initiatives and general operating funds. Once the merger is complete, Tantalus` Board of Directors and management will remain in place and lead the merged entity, which will continue to focus on providing innovative smart grid solutions for electricity, water and gas suppliers. After obtaining the necessary approvals for the listing of the TSX Venture Exchange, Tantalus, as a publicly traded company, will benefit from better access to the capital markets. A candidate company in certain categories and sectors may be required to submit a management plan that sets out its reasonable expectations for future revenues or to submit a geological report to demonstrate the profitability of the business. As noted above, sponsorship can be a determining factor in deciding whether a candidate company is eligible to list on the TSX-V. When a company is listed by the TSX, the company is designated as either an “exempt issuer” or a “non-exempt issuer.” Exempt status can be achieved where the applicant entity is incorporated, has net tangible assets (or proven reserves in the case of an oil and gas issuer) of $7.5 million or more and meets regulatory requirements for cash flow, pre-tax profitability and working capital.