{"id":393722,"date":"2020-12-04T16:14:52","date_gmt":"2020-12-04T21:14:52","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=393722"},"modified":"2020-12-04T16:14:52","modified_gmt":"2020-12-04T21:14:52","slug":"a-labs-capital-i-corp-announces-filing-of-filing-statement-and-final-closing-of-btcs-concurrent-financing","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/a-labs-capital-i-corp-announces-filing-of-filing-statement-and-final-closing-of-btcs-concurrent-financing\/","title":{"rendered":"A-Labs Capital I Corp. Announces Filing of Filing Statement and Final Closing of BTC\u2019s Concurrent Financing"},"content":{"rendered":"
\n

\n \/<\/strong>
\n NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR <\/strong>
\n RELEASE, PUBLICATION, DISTRIBUTION OR <\/strong>
\n DISSEMINATION IN<\/strong>
\n TO<\/strong>
\n THE UNITED STATES<\/strong>
\n \/<\/strong>
\n \n <\/p>\n

VANCOUVER, British Columbia, Dec. 04, 2020 (GLOBE NEWSWIRE) — A-LABS CAPITAL I CORP. (the \u201cCorporation<\/strong>\u201d or \u201cALBS<\/strong>\u201d) (TSXV: ALBS.P), a capital pool company, is pleased to announce that it has received conditional approval from the TSX Venture Exchange (the \u201cExchange<\/strong>\u201d or \u201cTSXV<\/strong>\u201d) for its previously disclosed \u201cQualifying Transaction\u201d (the \u201cQT<\/strong>\u201d) with BTC Corporation Holdings Pty Ltd. (\u201cBTC<\/strong>\u201d) and the shareholders of BTC. The conditional approval is valid for a 90-day period commencing on December 2, 2020.<\/p>\n

The Exchange has also approved the filing of the Corporation\u2019s filing statement dated November 30, 2020 (the \u201cFiling Statement<\/strong>\u201d), prepared in connection with the QT and available under the Corporation\u2019s SEDAR profile at www.sedar.com<\/a>.<\/p>\n

\n Update on An<\/em>
\n ticipated<\/em>
\n Closing Date<\/em>
\n of the QT<\/em>\n <\/p>\n

The QT is expected to close on or about December 31, 2020, or such other date as may be agreed upon by the Corporation and BTC, assuming the satisfaction of all conditions precedent to the QT, including without limitation, approval of the listing of the common shares of the resulting entity (\u201cResulting Issuer Shares<\/strong>\u201d) and final acceptance to the QT from the Exchange, the Corporation\u2019s completion of the consolidation and the name change to \u201cBanxa Holdings Inc.\u201d, or such other name as BTC may determine. In addition, the proposed issuance of 711,900 Resulting Issuer Shares to Zeus Capital Ltd., an entity controlled by a director of the Corporation, in satisfaction of certain consulting services provided to BTC, is subject to receipt of disinterested shareholder approval from the Corporation\u2019s shareholders by way of written consent.<\/p>\n

Upon completion of the QT, the Corporation expects the Resulting Issuer Shares to commence trading on the TSXV under the symbol \u201cBNXA\u201d.<\/p>\n

\n Completion of <\/em>
\n the <\/em>
\n Concurrent Financing<\/em>\n <\/p>\n

Further to the Corporation\u2019s news release dated November 18, 2020, BTC completed its non-brokered private placement (the \u201cConcurrent Financing<\/strong>\u201d) of 2,316 subscription receipts of BTC (each, a \u201cSubscription Receipt<\/strong>\u201d) (which will automatically convert into 2,316 shares of BTC immediately prior to closing of the QT and be exchanged for 4,025,208 Resulting Issuer Shares) on November 30, 2020 for combined gross proceeds of approximately AUD$4,226,700 (CAD$4,025,208). Each Subscription Receipt was issued at a price of AUD$1,825.<\/p>\n

Except as otherwise disclosed in the Filing Statement, the gross proceeds of the Concurrent Financing have been deposited into escrow and will be released to BTC upon satisfaction of the escrow release conditions (the \u201cEscrow Release Conditions<\/strong>\u201d) which were previously disclosed in the Corporation\u2019s news release dated August 20, 2020.<\/p>\n

BTC will pay certain finder\u2019s fees in connection with the Concurrent Financing upon satisfaction of the Escrow Release Conditions. Details of the terms of the Subscription Receipts and finder\u2019s fees payable by BTC are more particularly described in the Filing Statement.<\/p>\n

\n Trading Halt<\/em>\n <\/p>\n

The common shares of the Corporation are currently halted from trading and are expected to remain halted pending completion of the QT.<\/p>\n

\n About BTC<\/em>\n <\/p>\n

Banxa (BTC) is an internationally compliant fiat-to-crypto gateway solution for exchanges, wallets and other cryptocurrency businesses. Banxa offers global and local payment methods like credit cards and retail store networks. With an easy to integrate API, exchanges, wallet providers and other industry players can offer their customers an easy and secure way to buy cryptocurrency. Banxa takes care of all regulations, payment network integrations, operational overheads, and fraud management.<\/p>\n

\n About ALBS <\/em>\n <\/p>\n

ALBS is a capital pool company, pursuant to Policy 2.4 of the Exchange, formed to identify and evaluate potential acquisitions of commercial businesses or assets. Except as specifically contemplated in the Policy, ALBS does not carry business other than the identification and evaluation of businesses or assets with a view to completing a proposed Qualifying Transaction.<\/p>\n

\n Additional Information<\/em>\n <\/p>\n

All information contained in this news release with respect to BTC, including the gross proceeds of the Concurrent Financing, was supplied by BTC for inclusion herein, without independent review by the Corporation, and the Corporation and its directors and officers have relied such information concerning BTC.<\/p>\n

Additional terms of the QT were previously disclosed in the Corporation\u2019s news releases dated February 19, 2020, August 20, 2020 and November 18, 2020 and are available under the Corporation’s SEDAR profile at www.sedar.com<\/a>.<\/p>\n

\n For further information: <\/strong>\n <\/p>\n

\n A-Labs Capital I Corp.<\/strong>
\n
Doron Cohen
CEO and Director of the Corporation
+972 545-224-017
doron@alabs.co<\/p>\n

\n BTC <\/strong>
\n Corporation <\/strong>
\n Holdings Pty Ltd.<\/strong>
\n
Domenic Carosa
Founder & Chairman
+61411196979<\/p>\n

dom@banxa.com<\/p>\n

\n
\n Neither the Exchange nor its Regulation Services Provider (as such term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.<\/em>
\n <\/strong>\n <\/p>\n

\n Completion of the QT is subject to <\/em>
\n a number of<\/em>
\n conditions, including but not limited to, final Exchange approval and <\/em>
\n if applicable pursuant to Exchange Requirements, majority of the minority shareholder <\/em>
\n approval<\/em>
\n . <\/em>
\n Where applicable, t<\/em>
\n he QT cannot close until the required shareholder approval is obtained. There can be no assurance that the QT will be completed as proposed or at all.<\/em>\n <\/p>\n

\n Investors are cautioned that, except as disclosed in the <\/em>
\n Corporation\u2019s <\/em>
\n Filing Statement<\/em>
\n , any information released or received with respect to the <\/em>
\n QT<\/em>
\n may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.<\/em>\n <\/p>\n

\n The<\/em>
\n Exchange<\/em>
\n has in no way passed upon the merits of the <\/em>
\n QT<\/em>
\n and has neither approved nor disapproved the contents of this <\/em>
\n news<\/em>
\n release.<\/em>\n <\/p>\n

\n Caution Regarding Forward-Looking Information<\/strong>\n <\/p>\n

\n This<\/em>
\n news release <\/em>
\n contains \u201cforward-looking information\u201d within the meaning of applicable securities <\/em>
\n laws relating to the proposal to complete the QT,<\/em>
\n release of the <\/em>
\n gross<\/em>
\n proceeds<\/em>
\n from the Concurrent <\/em>
\n Financing<\/em>
\n ,<\/em>
\n the Corporation\u2019s proposed consolidation and name change, and<\/em>
\n other<\/em>
\n prospects<\/em>
\n that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Forward looking statements in this news release include, but are not limited to, the closing of the QT and related transactions, including <\/em>
\n the<\/em>
\n anticipate<\/em>
\n d<\/em>
\n closing date of the QT, <\/em>
\n the <\/em>
\n completion of the Escrow Release Conditions<\/em>
\n and the listing of the Resulting Issuer Shares on the TSXV<\/em>
\n . Because of these risks and uncertainties and as a result of a variety of factors, including with respect to<\/em>
\n governmental<\/em>
\n restrictions or <\/em>
\n adverse <\/em>
\n economic conditions resulting from the COVID-19 pandemic,<\/em>
\n the<\/em>
\n timing and<\/em>
\n ability to <\/em>
\n clos<\/em>
\n e<\/em>
\n the QT<\/em>
\n ,<\/em>
\n receip<\/em>
\n t<\/em>
\n of <\/em>
\n final<\/em>
\n approval<\/em>
\n from the Exchange<\/em>
\n ,<\/em>
\n and the satisfaction of other conditions to closing the QT,<\/em>
\n such as the consolidation<\/em>
\n and<\/em>
\n name change,<\/em>
\n the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although the Corporation believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. <\/em>
\n The statements in this news release <\/em>
\n are made as of the date of this release. <\/em>
\n Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.<\/em>\n <\/p>\n

\n
\n THIS <\/em>
\n <\/strong>
\n
\n NEW<\/em>
\n <\/strong>
\n
\n S RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS<\/em>
\n <\/strong>
\n
\n ,<\/em>
\n <\/strong>
\n
\n IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES, THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1993, AS AMENDED, OR ANY SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.<\/em>
\n <\/strong>\n <\/p>\n

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

\/ NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION IN TO THE UNITED STATES \/ VANCOUVER, British Columbia, Dec. 04, 2020 (GLOBE NEWSWIRE) — A-LABS CAPITAL I CORP. (the \u201cCorporation\u201d or \u201cALBS\u201d) (TSXV: ALBS.P), a capital pool company, is pleased to announce that it has received conditional approval from the TSX Venture Exchange (the \u201cExchange\u201d or \u201cTSXV\u201d) for its previously disclosed \u201cQualifying Transaction\u201d (the \u201cQT\u201d) with BTC Corporation Holdings Pty Ltd. (\u201cBTC\u201d) and the shareholders of BTC. The conditional approval is valid for a 90-day period commencing on December 2, 2020. The Exchange has also approved the filing of the Corporation\u2019s filing statement dated November 30, 2020 (the \u201cFiling Statement\u201d), prepared in connection … <\/p>\n

Continue reading “A-Labs Capital I Corp. Announces Filing of Filing Statement and Final Closing of BTC\u2019s Concurrent Financing”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-393722","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nA-Labs Capital I Corp. Announces Filing of Filing Statement and Final Closing of BTC\u2019s Concurrent Financing - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/a-labs-capital-i-corp-announces-filing-of-filing-statement-and-final-closing-of-btcs-concurrent-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A-Labs Capital I Corp. Announces Filing of Filing Statement and Final Closing of BTC\u2019s Concurrent Financing - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"\/ NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION IN TO THE UNITED STATES \/ VANCOUVER, British Columbia, Dec. 04, 2020 (GLOBE NEWSWIRE) — A-LABS CAPITAL I CORP. (the \u201cCorporation\u201d or \u201cALBS\u201d) (TSXV: ALBS.P), a capital pool company, is pleased to announce that it has received conditional approval from the TSX Venture Exchange (the \u201cExchange\u201d or \u201cTSXV\u201d) for its previously disclosed \u201cQualifying Transaction\u201d (the \u201cQT\u201d) with BTC Corporation Holdings Pty Ltd. (\u201cBTC\u201d) and the shareholders of BTC. The conditional approval is valid for a 90-day period commencing on December 2, 2020. The Exchange has also approved the filing of the Corporation\u2019s filing statement dated November 30, 2020 (the \u201cFiling Statement\u201d), prepared in connection … Continue reading "A-Labs Capital I Corp. 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(the \u201cCorporation\u201d or \u201cALBS\u201d) (TSXV: ALBS.P), a capital pool company, is pleased to announce that it has received conditional approval from the TSX Venture Exchange (the \u201cExchange\u201d or \u201cTSXV\u201d) for its previously disclosed \u201cQualifying Transaction\u201d (the \u201cQT\u201d) with BTC Corporation Holdings Pty Ltd. (\u201cBTC\u201d) and the shareholders of BTC. The conditional approval is valid for a 90-day period commencing on December 2, 2020. The Exchange has also approved the filing of the Corporation\u2019s filing statement dated November 30, 2020 (the \u201cFiling Statement\u201d), prepared in connection … Continue reading \"A-Labs Capital I Corp. 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