SALTIRE CAPITAL LTD. ANNOUNCES SUCCESSFUL COMPLETION OF PRIVATE PLACEMENT
The Company anticipates holding one subsequent closing on or about August 13, 2025, in respect of certain purchasers participating in the Private Placement on a non-brokered basis.
In connection with the Private Placement, Paradigm was paid (i) a cash fee equal to 7% of the gross proceeds of the brokered Private Placement, and (ii) 18,354 Common Share purchase warrants (the " Compensation Warrants"), being equal to 7% of the number of Common Shares issued pursuant to the brokered Private Placement. Each whole Compensation Warrant will entitle the holder to purchase one Common Share at a price of C$14.5228 per Common Share for a period expiring at 5:00 p.m. (Toronto time) on December 1, 2030.
The net proceeds from the Private Placement will be used to indirectly fund a portion of the cash purchase price payable in respect of the Company's previously completed acquisition of SanStone Investments Limited.
"Saltire is pleased to have completed the Private Placement, and believes the success of this offering positions the Company very well to continue to execute on its strategy," said Andrew Clark, CEO of Saltire.
All securities issued in connection with the Private Placement (including the Compensation Warrants) will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation in Canada.
Paradigm acted for Saltire on the Private Placement. Goodmans LLP acted as legal counsel to the Company and Borden Ladner Gervais LLP acted as legal counsel to Paradigm.
About Saltire Capital Ltd.
Saltire is a long-term capital partner that allocates capital to equity, debt and/or hybrid securities of high-quality private companies. Investments made by Saltire consist of meaningful and influential stakes in carefully selected private companies that it believes are under-valued businesses with the potential to significantly improve fundamental value over the long-term. These businesses will generally have high barriers to entry, predictable revenue streams and cash flows and defensive characteristics. Although Saltire primarily allocates capital to private companies, Saltire may, in certain circumstances if the opportunity arises, also pursue opportunities with orphaned or value challenged small and micro-cap public companies. Saltire provides investors with access to private and control-level investments typically reserved for larger players, while maintaining liquidity.
Forward Looking Information
This press release may contain forward-looking information and forward-looking statements within the meaning of applicable securities laws (" Forward-Looking Statements"). The Forward-Looking Statements contained in this press release relate to future events or Saltire's future plans, operations, strategy, performance or financial position, including the second and final closing of the Private Placement, and are based on Saltire's current expectations, estimates, projections, beliefs and assumptions. Such Forward-Looking Statements have been made by Saltire in light of the information available to it at the time the statements were made and reflect its experience and perception of historical trends. All statements and information other than historical fact may be Forward-Looking Statements. Such Forward-Looking Statements are often, but not always, identified by the use of words such as "may", "would", "should", "could", "expect", "intend", "estimate", "anticipate", "plan", "foresee", "believe", "continue", "expect", "potential", "proposed" and other similar words and expressions.
Forward-Looking Statements are based on certain expectations and assumptions and are subject to known and unknown risks and uncertainties and other factors, many of which are beyond Saltire's control, that could cause actual events, results, performance and achievements to differ materially from those anticipated in these Forward-Looking Statements, including Saltire's ability to consummate the second and final closing of the Private Placement and the participation of investors therein. Forward-Looking Statements are provided for the purpose of assisting the reader in understanding Saltire and its business, operations, prospects and risks at a point in time in the context of historical and possible future developments, and the reader is therefore cautioned that such information may not be appropriate for other purposes. Forward-Looking Statements should not be read as guarantees of future performance or results. Readers are cautioned not to place undue reliance on Forward-Looking Statements, which speak only as of the date of this press release. Unless otherwise noted or the context otherwise indicates, the Forward-Looking Statements contained herein are provided as of the date hereof, and Saltire disclaims any intention or obligation, except to the extent required by law, to update or revise any Forward-Looking Statements as a result of new information or future events, or for any other reason.
This press release should be read in conjunction with the management's discussion and analysis and unaudited condensed consolidated interim financial statements and notes thereto as at and for the three months ended March 31, 2025 and Saltire's Annual Information Form for the year ended December 31, 2024 dated March 28, 2025. Additional information about Saltire, including with respect to the risk factors that should be taken into consideration when reading this press release and the Forward-Looking Statements, is available on Saltire's profile on SEDAR+ at www.sedar.ca.
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