Business News • MarketWire • Axis Auto Finance Inc. (Formerly Verdant Financial Partners I Inc.) Announces Closing of Its Qualifying Transaction, Share Consolidation, and Name Change |
Axis Auto Finance Inc. (Formerly Verdant Financial Partners I Inc.) Announces Closing of Its Qualifying Transaction, Share Consolidation, and Name Change |
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Axis Auto Finance Inc. (Formerly Verdant Financial Partners I Inc.) Announces Closing of Its Qualifying Transaction, Share Consolidation, and Name Change
TORONTO, ONTARIO--(Marketwired - July 25, 2016) - Verdant Financial Partners I Inc. ("Verdant" or the "Company") (NEX:VFI.H) and 8095981 Canada Inc., operating as Axis Auto Finance ("Axis"), are pleased to announce the closing of their previously announced Qualifying Transaction today (as such term is defined in Policy 2.4 of the Corporate Finance Manual of the TSX Venture Exchange) (the "Exchange") involving the exchange of all of the issued and outstanding securities of Axis for securities of Verdant. Pursuant to the Qualifying Transaction, the Company issued 49,738,938 common shares (including common shares issuable in exchange for securities issued pursuant to the Private Placement, as defined below), 4,322,103 warrants, 4,269,500 stock options, and 545,123 compensation options. The Company also consolidated its common shares on the basis of 1 new common share for every 6 previously issued and outstanding and changed its name to "Axis Auto Finance Inc."
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