Folkstone Capital Corp: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Folkstone Capital Corp And Sophia Capital Corp Announce Intention To Combine
Folkstone Capital Corp and Sophia Capital Corp announced that they have entered into an agreement to amalgamate pursuant to the Business Corporations Act (British Columbia) (the BCBCA) and in accordance with the policies of the TSX Venture Exchange (the Exchange). Folkstone and Sophia, as capital pool companies pursuant to Policy 2.4 (Capital Pool Companies) of the Exchange (Policy 2.4), share the sole business objective of identifying and evaluating assets and/or businesses with a view to completing a Qualifying Transaction. Folkstone and Sophia also have identical directors and officers. Management of each of Folkstone and Sophia reviewed several potential opportunities for acquiring a business or assets for the purposes of completing a Qualifying Transaction. However, Folkstone and Sophia each determined that it would be better positioned to complete a Qualifying Transaction as a combined entity (the Resulting Issuer). The Resulting Issuer will have 12 months from the date the shares of the Resulting Issuer are listed on the Exchange to complete a Qualifying Transaction. The amalgamation of Folkstone and Sophia is expected to become effective on or before September 3, 2013. Immediately following the completion of the Amalgamation, the shareholders of Folkstone will collectively own 4,150,000 (or 71%) of the shares of the Resulting Issuer and the shareholders of Sophia will collectively own 1,721,233 (or 29%) of the shares of the Resulting Issuer.
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