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Clover Leaf Capital Corp. (symbol: CLOE) is a publicly traded special purpose acquisition company (SPAC) focused on identifying and merging with businesses that have strong growth potential. The company is listed on the NASDAQ under the symbol CLOE and is led by CEO Tsend Tseren.
In recent news, Clover Leaf Capital has made significant strides with its proposed qualifying transaction involving North Shore Energy Metals Ltd. This transaction is aimed at acquiring North Shore Energy, a private mineral exploration company focused on uranium exploration in the Athabasca Basin. The deal includes a share exchange agreement and an amended and restated filing statement, which was recently filed and is available on SEDAR+.
North Shore Energy boasts substantial holdings, including the 55,700-hectare Falcon property and the 4,500-hectare West Bear property. The company aims to bolster its uranium exploration capabilities, with the potential to significantly impact the uranium market.
Additionally, Clover Leaf Capital has engaged Axiom Exploration Group Ltd. to prepare an updated National Instrument 43-101 Technical Report on the expanded Falcon Property, further solidifying its position in the mineral exploration sector.
Another key development is the business combination with Kustom Entertainment, Inc., a subsidiary of Digital Ally, Inc. This merger, detailed in a registration statement filed with the U.S. SEC, aligns with Clover Leaf's strategy to diversify its investment portfolio and enhance shareholder value.
Clover Leaf Capital's current financial condition is supported by its cash assets, aiming for long-term growth through strategic acquisitions. The company operates under the guidelines of the TSX Venture Exchange, ensuring regulatory compliance and shareholder transparency. However, potential investors should be aware that trading in securities of a capital pool company is speculative and subject to various risks.
For further details on the company's operations, current projects, and financial status, visit their official filings on SEDAR+ or contact their corporate secretary, Ben Meyer, at ben@gocs.ca.
Clover Leaf Capital Corp. has extended the deadline for its qualifying transaction with North Shore Energy Metals from April 30, 2023, to June 30, 2023. The Company will also provide a secured credit facility up to $250,000 to assist North Shore Energy with property acquisition payments and working capital needs. The credit facility will bear interest at 7% per annum and is repayable if the transaction does not close by the new deadline. Completion of the transaction remains subject to regulatory approval and shareholder consent, and there is no guarantee it will proceed as planned.
Clover Leaf Capital Corp. has mailed a definitive proxy statement to its shareholders regarding a special meeting scheduled for October 19, 2022. The meeting aims to approve an extension for the completion of an initial business combination until July 22, 2023. If approved, Yntegra Capital Investments will provide a loan of $1,383,123 to support the extension. The redemption amount per share will vary based on the percentage of public shares remaining after redemptions, with estimates indicating a potential increase from the current redemption amount of $10.25 per share.
Clover Leaf Capital Corp. (Nasdaq: CLOE, CLOEU, CLOER) announced that September 23, 2022, is the record date for its upcoming special meeting of stockholders. The meeting will seek approval to amend the company's charter, extending the deadline for completing a business combination from October 22, 2022, to July 22, 2023. Stockholders as of the record date can vote on this proposal. A definitive proxy statement regarding this meeting will be mailed once finalized.
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