Pelican AI and Christie Capital Announce Brokered Financing Launch with Up to $5M Offering

Pelican AI and Christie Capital are launching a brokered private placement of subscription receipts for up to $5 million, with Canaccord Genuity Corp. as the lead manager and bookrunner. The offering is in anticipation of a reverse takeover transaction that will result in a three-cornered amalgamation between Christie and Pelican, creating a new entity called PelicanAI Corp. The transaction is subject to regulatory approvals, including TSX Venture Exchange listing.

Pelican AI and Christie Capital have announced the launch of a brokered private placement of subscription receipts, totaling up to $5 million. Canaccord Genuity Corp. will serve as the lead manager and bookrunner for this offering. The funds will facilitate a reverse takeover transaction, leading to a three-cornered amalgamation between Christie and Pelican, resulting in the formation of a new entity called PelicanAI Corp. The transaction is subject to regulatory approvals, including listing on the TSX Venture Exchange.

The private placement of subscription receipts is a strategic move aimed at securing funding for the reverse takeover and subsequent amalgamation. This transaction is part of a broader plan to create a new entity, PelicanAI Corp., which will combine the resources and expertise of Pelican AI and Christie Capital.

The brokered private placement is a common financing method used by companies to raise capital from private investors. This method allows companies to access funding without the need for a public offering, providing flexibility and control over the capital-raising process.

The transaction is expected to enhance the combined entity's market position and provide access to new opportunities. The formation of PelicanAI Corp. will create a new player in the market, leveraging the strengths of both Pelican AI and Christie Capital.

Investors should closely monitor the regulatory approval process, as the successful completion of the transaction is contingent upon receiving the necessary approvals. The TSX Venture Exchange listing will be a significant milestone, providing the new entity with access to a broader investor base and potential liquidity.