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BRIEF-GRANIZ MONDAL INC ANNOUNCES PROPOSED TRANSACTION WITH GROUP NANOXPLORE INC

Published 2017-06-08, 12:36 p/m
© Reuters. BRIEF-GRANIZ MONDAL INC ANNOUNCES PROPOSED TRANSACTION WITH GROUP NANOXPLORE INC

June 8 (Reuters) - Graniz Mondal Inc GRAh.V :

* GRANIZ MONDAL INC. ANNOUNCES PROPOSED TRANSACTION WITH GROUP NANOXPLORE INC.

* GRANIZ MONDAL INC - CO, NANOXPLORE INTEND TO MAKE A BROKERED PRIVATE PLACEMENT OF A MINIMUM OF $2.0 MILLION AND A MAXIMUM OF $5.0 MILLION

* GRANIZ MONDAL INC - PROPOSED TRANSACTION IS "AN ARM'S LENGTH REVERSE TAKEOVER" OF CO

* PURSUANT TO PROPOSED TRANSACTION, CO SHALL PROCEED TO A 15:1 COMMON SHARE CONSOLIDATION

* GRANIZ MONDAL- PURSUANT TO PROPOSED TRANSACTION, CO TO PURCHASE ALL ISSUED, OUTSTANDING SHARES IN SHARE CAPITAL OF NANOXPLORE FOR $25.3 MILLION

* GRANIZ MONDAL - ON COMPLETION OF PROPOSED TRANSACTION, SOROUSH NAZARPOUR WILL BE APPOINTED CEO & LUC VEILLEUX WILL BE APPOINTED CFO OF NANOXPLORE

* GRANIZ MONDAL - $25.3 MILLION PAYABLE THROUGH ISSUANCE OF 56.2 MILLION SHARES IN SHARE CAPITAL OF CO (AFTER CONSOLIDATION), AT A DEEMED VALUE OF $0.45/SHARE Source text for Eikon: ID:nCCNgNvh2a Further company coverage: GRAh.V

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