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Trichome, 22 Capital amalgamation gets exchange's conditional approval

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Trichome, 22 Capital amalgamation gets exchange's conditional approval

The proposed combination of businesses of Canada's 22 Capital Corp. and Trichome Financial Corp. has been given a conditional approval by the TSX Venture Exchange.

The deal is set to close around July 5 and will result in a reverse takeover of 22 Capital by the shareholders of Trichome and the resumption of trading of 22 Capital's common shares at the stock market under the symbol "TFC."

22 Capital is a publicly listed capital pool company that has no commercial operations and no significant assets other than cash. Its principal purpose is the identification, evaluation and acquisition of assets, properties or business with a view to completing a qualifying transaction.

Trichome was incorporated Sept. 18, 2017, as a specialty finance firm.

The two firms' amalgamation agreement was signed Nov. 13, 2018. It was amended Jan. 30, 2019, and again April 5 and May 27.