AIM5 is a Capital Pool Company (as defined in the policies of the TSXV) listed on the TSXV having been incorporated under the Business Corporations Act (Ontario) on August 11, 2020. AIM5 has no commercial operations and no assets other than cash.
There are no relationships between any non-arm's length party of AIM5 and the Target or its assets, and the Transaction will be an arm's length transaction. A comprehensive news release will be issued by AIM5 and the Target setting out the terms of the Transaction, which shall include information about AIM5 upon closing of the Transaction and the proposed financing of the Target in connection with the Transaction (the "Concurrent Financing").
Cautionary Note Regarding Forward-Looking Information
This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions, including that: the Concurrent Financing will be completed on acceptable terms; the Definitive Agreement will be entered into at all and on acceptable terms; all applicable shareholder, and regulatory approvals for the Transaction will be received, and that the Transaction will be completed on mutually acceptable terms and within a customary timeframe for transactions of this nature. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: availability of financing; delay or failure to receive board, shareholder or regulatory approvals; and general business, economic, competitive, political and social uncertainties. There can be no certainty that the Transaction will be completed on the terms set out in the LOI or at all. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.
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Not for distribution to United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
All information provided in this press release relating to the Target has been provided by management of the Target and has not been independently verified by management of the Company. As the date of this press release, the Company has not entered into a Definitive Agreement with the Target with respect to the Transaction, and readers are cautioned that there can be no assurances that a Definitive Agreement will be executed.
Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable pursuant to TSXV requirements, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSXV has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.
Neither the 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 release.
GRAND BEND – A Grand Bend business was honoured for strides forward in the electric vehicle (EV) infrastructure industry as part of the 2022 Limitless Awards on Feb. 9.
ChargerQuest, a company that owns and operates an EV charging network which spans across Canada, was named as the Breakthrough Award recipient.
“It’s good to be recognized for our contribution to technology and innovation,” said ChargerQuest CEO Christopher Misch. “We’re very honoured. I think it’s a stepping stone. It’s a glimpse of the crystal ball into the future. It reaffirms to us that we’re onto something huge.”
ChargerQuest was one of several companies named as award winners during this year’s online Limitless Awards ceremony, which was hosted by TechAlliance of Southwestern Ontario. The Breakthrough Award is given to a company that has “brought a novel solution, impactful to the market, and is currently generating revenue, attracting team members and creating significant buzz in Southwestern Ontario’s innovation economy.”
“Let’s allow these stories of innovation in action inspire us towards a stronger, more prosperous future,” said TechAlliance of Southwestern Ontario CEO Christina Fox in a press release. “When we rally around those who are blazing trails and setting new standards, we bolster the innovation economy together.”
According to Misch, ChargerQuest has about 118 chargers operating or that are “in development” in five provinces, as well as 42 DC fast chargers. He said there are plans to install six new chargers in the Colonial Hotel’s parking lot as soon as April, and chargers are also being installed in Saugeen Shores and Tobermory.
Misch, who currently lives in Grand Bend and is from the Hanover area, said he chose to start ChargerQuest in Grand Bend with hopes of supporting the local economy and avoiding the higher costs of being based in a city.
Misch said EV infrastructure is “paramount” as the world continues to fight against climate change.
“One thing that this pandemic has really put a light on is climate change and environmental issues,” said Misch. “The EV industry is probably the fastest growing industry in the world, and when we’re looking at greenhouse gas emissions and trying to decarbonize the world, the transportation sector is a big contributor to that.”
Speaking about the hurdles that need to be overcome in EV infrastructure, Misch said many people considering buying electric vehicles are hesitant because of the lack of infrastructure, and that most companies installing chargers are targeting large cities, leaving gaps in the infrastructure.
“We’re taking a different approach,” he said. “We want to fill in the gaps in infrastructure and connect people to the places they really want to go.”
For more information about the 2022 Limitless Awards, visit techalliance.ca/limitless.
Pycap was featured at the Canadian Business Immigration Webinar put on by South African firm Beaver Immigration.
During the webinar, Pycap CEO Stuart Browne discussed the purpose of the Startup Visa Program in Canada and its contribution to the Canadian economy, as well as the eligibility requirements.
There was also discussion of how Pycap's Incubator is a unique Designated Organization in that it is run by institutional investors, serial entrepreneurs and educational professionals providing clients with the highest level of guidance and structure to making their businesses successful in the North American market.