Toronto, Ontario--(Newsfile Corp. - March 3, 2025) - Spackman Equities Group Inc. (TSXV: SQG) (the "Company" or "SEGI") has entered into an advisory agreement (the "Agreement") with CanariaBio Inc. ("CanariaBio"), which is seeking to list or list its assets on the TSX Venture Exchange (the "TSXV") by entering into a reverse takeover transaction ("RTO") with a shell company or a capital pool company currently listed on the TSXV (the "Listco") in accordance with Policy 5.2 of the TSXV (the "Transaction") on March 3, 2025.
CanariaBio is a Korean clinical stage biopharmaceutical company focused on the development and commercialization of immunotherapies for cancer. CanarioBio's technology platform includes a portfolio of tumor antigen specific monoclonal immunoglobulins targeting CA125, MUC1, PSA and Her2/neu.
Along with the RTO, CanariaBio intends to undertake a concurrent financing by way of private placements of its securities, securities of an entity representing its assets or securities of the Listco, or any combination thereof (the "Concurrent Financing").
SEGI shall advise CanariaBio to comprehensively plan, manage, administer and supervise the overall process of the RTO and the Concurrent Financing.
According to the Agreement, SEGI will be entitled to receive a certain percentage of the Transaction value, in the form of newly issued shares of the Listco, issued in addition to and concurrently with, and at the same deemed price per Listco share as, the shares of the Listco that CanariaBio (or its shareholders) shall receive at the closing of the Transaction.
In connection with the raising of capital for the Concurrent Financing, SEGI shall be entitled to receive a certain percentage of the gross proceeds of the funds introduced and arranged by SEGI.
Kay Na, director of SEGI, stated, "From our long experience with the TSX Venture Exchange ("TSXV"), we believe that the TSXV has evolved into one of the most attractive listing venues for small/medium-sized growth businesses in recent years, especially in terms of the efficient and transparent regulatory framework and its understanding of the needs of development stage businesses. As one of SEGI's primary business growth engines going forward, we plan to lead the charge in becoming a conduit, as an investor or adviser or both, for a pipeline of small/medium-sized businesses from Korea to list on the TSXV, opening an alternative capital pathway for promising Korean growth companies. In addition, through such listings, we seek to become a catalyst in bringing new market participation to the TSXV from Korean retail and institutional investors who are now able to invest into and trade Canadian stocks directly from Korea. We are convinced that the TSXV will become a listing destination of choice for growth stage businesses from various parts of the world in the coming years."
The Company will update as and when there is any material change on the Agreement or impact from the RTO or Concurrent Financing in accordance with the Agreement, as and when appropriate and necessary.
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About Spackman Equities Group Inc.
SEGI is an international investment firm that selectively invests into growth companies that possess proprietary know-how or technologies. Our objective is to originate opportunities to invest into businesses at attractive valuations, build a compelling portfolio of holdings, and deliver the collective value of our investments to our shareholders. Spackman Equities Group invests into public equities as well as privately-held companies.
SEGI also advise our portfolio companies on mergers & acquisitions strategies, capital structuring, and strategic alternatives.
The common shares of Spackman Equities Group trades on the TSX Venture Exchange under the symbol SQG.
Visit www.spackmanequities.com for further information.
Forward-Looking Statements
Included in this news release may be matters that constitute "forward-looking" information within the meaning of Canadian securities law. Such forward-looking statements may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may" or words of a similar nature. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include among others, regulatory risks, risk inherent in foreign operations, commodity prices and competition. Most of these factors are outside the control of the Company. All subsequent forward-looking statements attributable to the Company or its agents are expressly qualified in their entirety by these cautionary comments. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward- looking information, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) has in any way approved or disapproved of the contents of this press release.
For further information:
Na Kyoungwon
Spackman Equities Group Inc.
416-214-3653
info@spackmangroup.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243065
SOURCE: Spackman Equities Group Inc.
