|By Marketwired .||
|May 16, 2014 12:38 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 05/16/14 -- Wildlaw Capital CPC 2 Inc. ("Wildlaw CPC 2") (TSX VENTURE: WLD.P), a capital pool company, and AcuityAds Inc. ("Acuity"), a provider of proprietary targeted digital advertising, are pleased to announce the full exercise of the overallotment option in connection with Acuity's previously announced private placement (the "Offering"). Acuity previously issued 3,318,778 subscription receipts (the "Subscription Receipts") on April 24, 2014, at $1.59 per Subscription Receipt, for aggregate gross proceeds of approximately $5.3 million. Acuity today issued an additional 297,574 Subscription Receipts for aggregate gross proceeds of approximately $450,000 (the "Second Closing"). The completion of the Second Closing brings the aggregate gross proceeds of the Offering to $5.75 million. The Offering was made pursuant to an agency agreement dated April 24, 2014 with a syndicate led by Paradigm Capital Inc., and including Clarus Securities Inc. and Euro Pacific Canada.
The Offering was completed in connection with the proposed business combination of Wildlaw CPC 2 and Acuity (the "Transaction"). If completed, the Transaction will constitute Wildlaw CPC 2's qualifying transaction pursuant to the policies of the TSX Venture Exchange (the "TSXV"). In connection with the Transaction, the common shares of Acuity will be converted into common shares of Wildlaw CPC 2 following the Transaction (the "Resulting Issuer"). Assuming the escrow release conditions for the Subscription Receipts are satisfied, each Subscription Receipt will ultimately entitle the holder thereof to one common share of the Resulting Issuer.
The Transaction remains subject to a number of terms and conditions set forth in the definitive agreement between Wildlaw CPC 2 and Acuity relating thereto, including the approval of the TSXV. For a detailed description of the Transaction, please refer to the press release of Wildlaw CPC 2 dated April 24, 2014.
About Wildlaw CPC 2
Wildlaw CPC 2 is a capital pool company (CPC) formed under the TSXV CPC program.
Acuity is a technology company that has developed a proprietary Programmatic Marketing Platform to intelligently connect digital advertisers to consumers across online display, mobile, social and video advertising channels, and solve the key challenges that digital advertisers face. The Programmatic Marketing Platform is powered by Acuity's proprietary machine learning technology that uses Big Data to intelligently target and connect digital advertisers with consumers. Acuity has offices in Canada and the United States, and its customers include both large Fortune 500 enterprises and small to mid-sized businesses.
Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance. There can be no assurance that the transaction will be completed as proposed or at all.
All information in this press release concerning Acuity has been provided for inclusion herein by Acuity. Although Wildlaw CPC 2 has no knowledge that would indicate that any information contained herein concerning Acuity is untrue or incomplete, Wildlaw CPC 2 assumes no responsibility for the accuracy or completeness of any such information.
Investors are cautioned that, except as disclosed in the 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 CPC should be considered highly speculative.
Neither 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.
Certain information in this press release may constitute forward-looking information, including without limitation the completion of the Transaction, as well receipt of all necessary approvals in connection therewith. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Wildlaw CPC 2 assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Wildlaw CPC 2. Additional information identifying risks and uncertainties is contained in the Wildlaw CPC 2's filings with the Canadian securities regulators, which filings are available at www.sedar.com.
Wildlaw Capital CPC 2 Inc.
Chief Executive Officer
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