LOGiQ Asset Management Inc. closed its acquisition of the issued and outstanding common shares of Grenville Strategic Royalty Corp. on the basis of 6.25 LOGiQ common shares for each Grenville share.
As a result of the deal, LOGiQ continued from Alberta to British Columbia and changed its name to Flow Capital Corp.
In addition, Flow Capital effected a share consolidation on a 1-for-12 basis. Following the share consolidation, Flow Capital is anticipated to have about 82,678,533 issued and outstanding common shares.
Flow Capital's board size has also increased to six members from five. The board is comprised of Eldon Smith, Gordon McMillan, Vernon Lobo, Catherine McLeod-Seltzer, Peter Kampian and Paul De Luca.
Robb McLarty, acting CEO and chief investment officer of Flow Capital, leads Flow Capital's management team, with Donnacha Rahill as CFO and Steve Mantle as president of LOGiQ Global Partners.
Shares of Flow Capital, along with Flow Capital 2019 debentures and Flow Capital 2021 debentures are expected to start trading on the TSX Venture Exchange June 11 under the stock symbols FW, FW.DB.A and FW.DB.B, respectively.
