Rainy Hollow Ventures Inc. Announces Shareholder Approval of Its Transition to the New CPC Policy
TSXV: RHV.P) (
Company ), a capital pool company listed on the TSX Venture Exchange (
TSXV ), is pleased to announce that on March 31, 2021, disinterested shareholders of the Company approved, by way of written shareholder consent, the implementation of the certain changes needed to transition to the TSXV s Policy 2.4 -
Capital Pool Companies (
New CPC Policy ). The certain changes approved by disinterested shareholders, are as follows:
to remove the consequences of failing to complete a Qualifying Transaction (as defined in Policy 2.4) within 24 months of Rainy Hollow s date of listing on the TSXV; and
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Rainy Hollow Ventures Inc. and Sustainable Produce Urban Delivery Inc. Announce Interim Order and Meeting for Going Public Transaction
Rainy Hollow ) and Sustainable Produce Urban Delivery Inc. (
SPUD ) are pleased to announce that on March 12, 2021 SPUD obtained an interim order from the Supreme Court of British Columbia authorizing the calling and holding of an annual and special meeting (the
Meeting ) of the shareholders of SPUD (the
SPUD Shareholders ), the granting of dissent rights to SPUD shareholders and other matters relating to the conduct of the Meeting. At the Meeting, the SPUD Shareholders will be asked to pass a special resolution relating to the proposed plan of arrangement of SPUD and certain securityholders of SPUD (the
Sustainable Produce Urban Delivery Inc. and Rainy Hollow Ventures Inc. Announce Closing of Subscription Receipt Private Placement
SPUD ) and Rainy Hollow Ventures Inc. (TSXV: RHV.P) (
Rainy Hollow ) are pleased to announce that SPUD has closed its previously-announced private placement of subscription receipts (
Subscription Receipts ) by issuing 3,227,500 Subscription Receipts at a price of $7.50 each, for gross proceeds to SPUD of approximately $24.2 million, pursuant to an agency agreement dated December 23, 2020 between Canaccord Genuity Corp. and Desjardins Securities Inc., who acted as co-lead agents, Cormark Securities Inc., PI Financial Corp. (collectively, the
Agents ), SPUD and Rainy Hollow.
The gross proceeds from the sale of the Subscription Receipts, less the Agents expenses paid at the closing of the private placement, are being held in escrow by Computershare Trust Company of Canada (
Rainy Hollow Ventures Inc. and Sustainable Produce Urban Delivery Inc. Announce Execution of Arrangement Agreement and Update Regarding Concurrent Private Placement
Rainy Hollow ) and Sustainable Produce Urban Delivery Inc. (
SPUD ) are pleased to announce that, further to their joint news release dated October 1, 2020, they have entered into an arrangement agreement dated December 21, 2020 between Rainy Hollow and SPUD (the
Arrangement Agreement ), which sets out the terms of the reverse take-over of Rainy Hollow by SPUD by way of a statutory plan of arrangement under Section 288 the
Business Corporations Act (British Columbia) (the
BCBCA ) involving Rainy Hollow, SPUD and the securityholders of SPUD (the