BURNABY, BC – Tantalus Systems Holding Inc. is pleased to announce that it has commenced an overnight marketed public offering of common shares of the Company. The Offering is expected to be completed pursuant to an underwriting agreement to be entered into among Canaccord Genuity Corp. and Cormark Securities Inc. as co-lead underwriters and joint bookrunners for the Offering, and a syndicate of underwriters.
The size and price of the Offering is expected to be determined in the course of the marketing. There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The Offering is expected to close on or about August 12, 2021 and will be subject to customary conditions, including approval of the Toronto Stock Exchange.
In addition, the Company intends to grant the Underwriters a 30-day option to purchase up to an additional 15% of the Common Shares offered in the proposed Offering on the same terms and conditions for market stabilization purposes and to cover overallotments. The Over-Allotment Option may be exercised in whole or in part to purchase Common Shares.
The Company intends to use the net proceeds of the offering for strategic initiatives, working capital and general corporate purposes.
The Common Shares will be offered in each of the provinces of Canada, excluding Quebec, pursuant to a prospectus supplement to the Company’s short form base shelf prospectus dated June 28, 2021. The Common Shares will not be offered or sold in the United States except in transactions that do not require registration under the United States Securities Act of 1933, as amended.
The Company intends to file a prospectus supplement to its Base Shelf Prospectus on or about August 5, 2021. The prospectus supplement and the Base Shelf Prospectus contain important detailed information about the Company and the proposed Offering. Prospective investors should read the Base Shelf Prospectus and the other documents the Company has filed before making an investment decision. Copies of the documents, following filing thereof, and the Base Shelf Prospectus will be available on SEDAR at www.sedar.com.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities to be offered have not been, and will not be registered under the U.S. Securities Act or under any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
