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Newstrike Resources and HPI Holdings Complete Business Combination

Published: 05/29/2017

Team: Jay Goldman, Jennifer Campbell, David Gardos

On May 29, 2017, Newstrike Resources Ltd. and HPI Holdings Ltd. completed a business combination pursuant to the master agreement entered into between Newstrike, HPI and 2559595 Ontario Inc. as of February 3, 2017, as amended. The common shares of Newstrike are expected to commence trading on a post-closing basis on the TSX Venture Exchange at the open of markets on Thursday, June 1, 2017, under the new symbol "HIP".

On March 7, 2017, in connection with the completion of the combination, Newstrike completed a non-brokered private placement of 25,000,000 subscription receipts at a price of $0.125 per subscription receipt for total aggregate proceeds of $3,125,000. 

Cassels Brock acted for Newstrike with a deal team that included Jay Goldman, Jennifer Campbell and David Gardos (Securities, Cannabis and M&A).