Toronto, ON – Further to its news release of January 15, 2018 and its final prospectus dated January 31, 2018, Trenchant Capital Corp. (TSX.V: TCC.H) (the “Company”) today announces an amendment to the terms of its proposed public offering (the “Offering”) of secured convertible debentures (the “Debentures”) to reduce the minimum amount of the Offering from $10 million to $5 million and to extend the initial closing date to on or about February 28, 2018. All other terms of the Offering, including the maximum Offering size of $20 million, the offering price of $1,000 per Debenture and the terms of the Debentures, remain unchanged. The minimum amount of the loan to be made by the Company (through a wholly-owned subsidiary) to ABO Investments Limited Partnership, for which the proceeds of the Offering will be used, will also be reduced from $10 million to $5 million. The Company has filed an amended and restated final prospectus with applicable securities regulators with respect to the amended offering size.
None of the Debentures or the common shares into which the Debentures may be converted have been or will be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities, in any jurisdiction in which such offer, solicitation or sale would require registration or otherwise be unlawful.
An amended and restated final prospectus containing important information relating to the Debentures has been filed with the securities regulatory authorities in each of the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. The amended and restated final prospectus, a copy of which is available on SEDAR at www.sedar.com., contains important information relating to the Debentures. Investors should read the amended and restated final prospectus, and any amendment thereto, for disclosure of those facts, especially risk factors relating to the Debentures, before making an investment decision.
About the Company
The Company aims to become a diversified investment and venture capital firm with a focus on providing special situation debt financing to established companies with a proven track record. The Company expects to benefit from its strategic alliance with Hillcore, a leading independent Canadian investment and advisory firm, that grants the Company rights of first negotiation to provide financing and management services to Hillcore’s pipeline of current and future private equity investments.
ON BEHALF OF THE BOARD
TRENCHANT CAPITAL CORP.
Per: “Eric Boehnke”
Eric Boehnke, CEO
For further information, please contact:
Trenchant Capital Corp.
Eric Boehnke, CEO
Phone: (604) 307-4274
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Disclaimer for Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the proposed loan, the Offering and statements regarding the proposed business and operations of the Company following completion of the foregoing transactions. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors that may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: failure to complete the Offering on the terms expected or at all; general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; and other risks outside of the Company’s control. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by applicable laws, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.