OR FOR DISSEMINATION IN THE U.S./
TORONTO, July 9, 2021 /CNW/ – Further to its press release of June 14, 2021, Cliffside Capital Ltd. (“
Cliffside” or the “
Corporation“) (TSXV:CEP) is providing this update to give more information regarding the Corporation’s planned Offering (described below), formation of a new special purpose limited partnership and the acquisition by that partnership of non-prime consumer automobile loans from a non-arm’s length party (as defined in TSXV Policy 1.1), ACC LP (the “
Vendor“).
CAR LP“)
As previously announced, Cliffside intends to issue 22,500,000 units (“
Units“) on a private placement basis, at $0.20 per Unit, to raise $4.5 million in gross proceeds (herein, the “