Welcome!

News Feed Item

Lakeside Announces Closing of Qualifying Transactions With Unite Capital Corp. and Canada Pacific Capital Corp.

TORONTO, ONTARIO -- (Marketwired) -- 06/25/14 -- Lakeside Minerals Inc. ("Lakeside") (TSX VENTURE: LAK) is pleased to announce that it has completed the previously announced transactions with Unite Capital Corp. (TSX VENTURE: UNT.P) (see press release dated March 12, 2014) and Canada Pacific Capital Corp. (TSX VENTURE: CPR.H) (see press release dated April 23, 2014).

Canada Pacific Capital Transaction

Pursuant to the terms of the subscription agreement, dated March 12 2014 (the "Subscription Agreement") between Lakeside and Canada Pacific Capital Corp. ("Canada Pacific"), Canada Pacific subscribed for 5,800,000 units of Lakeside (the "Lakeside Units") at a price of $0.05 Lakeside Unit, for aggregate consideration of approximately $290,000 in cash. Each Lakeside Unit shall consists of one common share in the capital of Lakeside ("Lakeside Share") and one-half of one common share purchase warrant (each, a "Warrant") exercisable into Lakeside Shares at a price of $0.10 per Lakeside Share at any time prior the third anniversary of issuance. Following the purchase of the Lakeside Units by Canada Pacific, Canada Pacific distributed the Lakeside Units, on a pro-rata basis, to its shareholders (the "Distribution") as a return of capital. An aggregate of 1,411,896 of the Lakeside Shares and 700,950 of the Warrants are subject to escrow pursuant to the policies of the Exchange and will be released from escrow in six-month intervals over a period of three years from the closing of the Canada Pacific transaction. The Lakeside Units distributed to Canada Pacific's shareholders will be subject to a statutory four month hold period. The Private Placement and subsequent Distribution and Dissolution constitute Canada Pacific's Qualifying Transaction pursuant to Policy 2.4 of the TSX Venture Exchange (the "Exchange").

Unite Capital Transaction

Unite Capital Corp. ("Unite"), a capital pool company, listed in the TSX Venture Exchange, amalgamated (the "Amalgamation") with a wholly-owned subsidiary of Lakeside. The Amalgamation constituted the Qualifying Transaction of Unite, as such term is defined in the policies of the Exchange. Lakeside issued an aggregate of 2,599,753 Lakeside Shares and 1,299,877 Warrants in exchange for the outstanding common shares of Unite. An aggregate of 1,612,208 of the Lakeside Shares and 806,104 of the Warrants are subject to escrow pursuant to the policies of the Exchange and will be released from escrow in six-month intervals over a period of three years from the closing of the Unite transaction. All of the outstanding stock options of Unite were cancelled on completion of the transaction. The Unite transaction was previously described in a press release dated April 23, 2014 and an Information Circular of Unite in respect of the shareholders' meeting of Unite held on June 16, 2014.

Registered holders of Unite shares are requested to submit a Letter of Transmittal (which can be accessed online under Unite's profile at www.sedar.com or at www.lakesideminerals.com) together with their share certificates in order to receive certificates representing the Lakeside Shares and Lakeside Warrants to which they are entitled as a result of the Amalgamation.

Following the completion of the Canada Pacific transaction and the Unite transaction, Lakeside now has 24,025,216 Lakeside Shares and 4,199,877 Warrants outstanding.

The Exchange has issued a bulletin advising that the Corporation has met the requirements to be listed on the Exchange as a Tier 2 company.

ON BEHALF OF THE BOARD

LAKESIDE MINERALS INC.

Yannis Banks, CEO and Director

FORWARD-LOOKING STATEMENTS: Certain of the information contained in this news release may contain "forward-looking information". Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of Lakeside Minerals Inc. (the "Company"), or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. The Company does not intend, nor does the Company undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
As enterprise cloud becomes the norm, businesses and government programs must address compounded regulatory compliance related to data privacy and information protection. The most recent, Controlled Unclassified Information and the EU’s GDPR have board level implications and companies still struggle with demonstrating due diligence. Developers and DevOps leaders, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by in...
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
The 21st International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
DevOps at Cloud Expo – being held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real r...
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search and...
One of the biggest challenges with adopting a DevOps mentality is: new applications are easily adapted to cloud-native, microservice-based, or containerized architectures - they can be built for them - but old applications need complex refactoring. On the other hand, these new technologies can require relearning or adapting new, oftentimes more complex, methodologies and tools to be ready for production. In his general session at @DevOpsSummit at 20th Cloud Expo, Chris Brown, Solutions Marketi...
SYS-CON Events announced today that Outscale will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outscale's technology makes an automated and adaptable Cloud available to businesses, supporting them in the most complex IT projects while controlling their operational aspects. You boost your IT infrastructure's reactivity, with request responses that only take a few seconds.
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
We all know that end users experience the internet primarily with mobile devices. From an app development perspective, we know that successfully responding to the needs of mobile customers depends on rapid DevOps – failing fast, in short, until the right solution evolves in your customers' relationship to your business. Whether you’re decomposing an SOA monolith, or developing a new application cloud natively, it’s not a question of using microservices - not doing so will be a path to eventual ...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus intern...
Apache OpenWhisk on IBM Bluemix provides a powerful and flexible environment for deploying cloud-native applications driven by data, message, and API call events. In his session at 20th Cloud Expo, Daniel Krook, Software Architect, IBM Watson and Cloud Platform, and Distinguished IT Specialist, will discuss why serverless architectures are attractive for many emerging cloud workloads and when you should consider OpenWhisk for your next project. Then get started on Bluemix with three sample appl...
While presenting own advanced Robo-Advisory Platform, Michał Różański, Managing Partner at EARP and CEO at Empirica, will illustrate the most important issues of building tailored FinTech software in his session at 20th Cloud Expo. He will share experiences we have gained for over 6 years of developing solutions for financial institutions and FinTech companies, including robo-advisors. We welcome all FinTech innovators interested in how properly implemented technology can move their businesses f...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 21st International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo Silicon Valley Call for Papers is now open.
As cloud adoption continues to transform business, today's global enterprises are challenged with managing a growing amount of information living outside of the data center. The rapid adoption of IoT and increasingly mobile workforce are exacerbating the problem. Ensuring secure data sharing and efficient backup poses capacity and bandwidth considerations as well as policy and regulatory compliance issues.