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Clover Leaf Capital Corp. (symbol: CLOEU) is a blank check company that has announced an agreement with North Shore Energy Metals Ltd. to reduce the Concurrent Equity Financing amount. The company is set to complete its Qualifying Transaction, subject to TSX Venture Exchange acceptance. North Shore Energy is focused on uranium exploration in the Athabasca Basin, with properties including Falcon and West Bear. The Transaction remains subject to shareholder approval and cannot close until the necessary conditions are met.
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.
Clover Leaf Capital Corp. (NASDAQ: CLOEU) announced an extension for its business combination deadline from July 22, 2022, to October 22, 2022. This is the first of three possible three-month extensions as per its governing documents. The sponsor, Yntegra Capital Investments, will deposit $1,383,123 into the trust account by July 22, 2022, equating to $0.10 per public share. This extension allows the Company additional time to complete its initial business combination.
FAQ
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What is Clover Leaf Capital Corp.?
Who is North Shore Energy Metals Ltd.?
What are the properties owned by North Shore Energy?
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What are the conditions required for the completion of the Transaction?
When is the estimated Closing Date for the ongoing Transaction?
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Who are the current directors and officers of Clover Leaf Capital Corp.?
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What are the key updates regarding the Falcon property owned by North Shore Energy?
Where can investors find detailed information about the Transaction?
What is the focus of the Business Combination between Digital Ally and Clover Leaf Capital Corp.?
