EarthLabs Announces Vertical Amalgamation
EarthLabs Inc. (TSXV: SPOT) (OTCQX: SPOFF) has completed a vertical short form amalgamation with its wholly-owned subsidiary, DigiGeoData Inc., effective February 1, 2025. The corporate restructuring aims to simplify the company's structure and reduce administrative costs.
The amalgamation involves no issuance of new securities, and EarthLabs' share capital remains unchanged. While the subsidiary's shares will be cancelled, EarthLabs will assume all its assets, liabilities, and obligations. The company confirms that this reorganization will not significantly impact its business operations, and its shares will continue trading on the TSX Venture Exchange.
EarthLabs Inc. (TSXV: SPOT) (OTCQX: SPOFF) ha completato un amalgama verticale in forma breve con la sua controllata interamente posseduta, DigiGeoData Inc., con effetto dal 1 febbraio 2025. La ristrutturazione aziendale ha lo scopo di semplificare la struttura dell'azienda e ridurre i costi amministrativi.
L'amalgama non comporta l'emissione di nuovi titoli, e il capitale sociale di EarthLabs rimane invariato. Sebbene le azioni della controllata saranno annullate, EarthLabs assumerà tutti i suoi beni, passività e obblighi. L'azienda conferma che questa riorganizzazione non avrà un impatto significativo sulle sue operazioni aziendali, e le sue azioni continueranno a essere scambiate sulla TSX Venture Exchange.
EarthLabs Inc. (TSXV: SPOT) (OTCQX: SPOFF) ha completado una fusión vertical en forma corta con su subsidiaria de propiedad total, DigiGeoData Inc., con fecha efectiva el 1 de febrero de 2025. La reestructuración corporativa tiene como objetivo simplificar la estructura de la empresa y reducir costos administrativos.
La fusión no implica la emisión de nuevos valores, y el capital social de EarthLabs permanece sin cambios. Aunque las acciones de la subsidiaria serán canceladas, EarthLabs asumirá todos sus activos, pasivos y obligaciones. La empresa confirma que esta reorganización no impactará significativamente sus operaciones comerciales, y sus acciones continuarán cotizando en la TSX Venture Exchange.
EarthLabs Inc. (TSXV: SPOT) (OTCQX: SPOFF)는 2025년 2월 1일부로 전액 출자한 자회사인 DigiGeoData Inc.와 수직 단기 합병을 완료했습니다. 이 회사 구조 조정은 회사의 구조를 단순화하고 관리 비용을 절감하기 위해 실시됩니다.
합병에는 새로운 증권 발행이 없으며, EarthLabs의 자본금은 변동이 없습니다. 자회사 주식은 취소되지만, EarthLabs는 모든 자산, 부채 및 의무를 인수할 것입니다. 회사는 이 재편성이 그의 사업 운영에 중대한 영향을 미치지 않을 것이라고 확인하며, 주식은 TSX 벤처 거래소에서 계속 거래됩니다.
EarthLabs Inc. (TSXV: SPOT) (OTCQX: SPOFF) a achevé une fusion verticale sous forme abrégée avec sa filiale entièrement détenue, DigiGeoData Inc., effective le 1er février 2025. La restructuration de l'entreprise vise à simplifier la structure de l'entreprise et à réduire les coûts administratifs.
La fusion n'entraîne pas l'émission de nouveaux titres, et le capital social d'EarthLabs reste inchangé. Bien que les actions de la filiale soient annulées, EarthLabs assumera tous ses actifs, passifs et obligations. L'entreprise confirme que cette réorganisation n'aura pas d'impact significatif sur ses opérations commerciales, et ses actions continueront à être négociées sur la bourse TSX Venture Exchange.
EarthLabs Inc. (TSXV: SPOT) (OTCQX: SPOFF) hat eine vertikale Kurzformverschmelzung mit ihrer vollumfänglichen Tochtergesellschaft, DigiGeoData Inc., zum 1. Februar 2025 abgeschlossen. Die Unternehmensrestrukturierung zielt darauf ab, die Unternehmensstruktur zu vereinfachen und Verwaltungskosten zu reduzieren.
Die Verschmelzung umfasst keine Ausgabe neuer Wertpapiere, und das Unternehmenskapital von EarthLabs bleibt unverändert. Während die Anteile der Tochtergesellschaft annulliert werden, wird EarthLabs alle ihre Vermögenswerte, Verbindlichkeiten und Verpflichtungen übernehmen. Das Unternehmen bestätigt, dass diese Umstrukturierung keine wesentlichen Auswirkungen auf die Geschäftsabläufe haben wird und dass seine Aktien weiterhin an der TSX Venture Exchange gehandelt werden.
- Administrative cost reduction through corporate structure simplification
- No shareholder dilution as no new shares will be issued
- None.
Toronto, Ontario--(Newsfile Corp. - February 3, 2025) - EarthLabs Inc. (TSXV: SPOT) (OTCQX: SPOFF) (FSE: 8EK0) ("EarthLabs" or the "Company") is pleased to announce that effective as of 12:01 a.m. (EST) on February 1, 2025, it has completed a vertical short form amalgamation with its wholly-owned subsidiary, DigiGeoData Inc. (the "Subsidiary").
The amalgamation of the Company and its Subsidiary was undertaken in order to simplify the corporate structure of the Company and to reduce administrative costs.
No securities of EarthLabs will be issued in connection with the amalgamation and EarthLabs's share capital will remain unchanged. All of the issued and outstanding shares of the Subsidiary will be cancelled, and the assets, liabilities and obligations of the Subsidiary will be assumed by EarthLabs. The amalgamation will not have any significant effect on the business and operations of EarthLabs and the shares of EarthLabs will continue to be listed on the TSX Venture Exchange.
About EarthLabs Inc.
EarthLabs Inc. (TSXV: SPOT) (OTCQX: SPOFF) (FSE: 8EK0) is a mining investment, technology, and media company that aims to provide strategic leverage to the metals and mining sector through investments, royalties and a full suite of data-driven media SaaS tools and services including CEO.CA, The Northern Miner, MINING.COM, and Canadian Mining Journal.
For further information please contact:
Denis Laviolette
Executive Chairman and CEO
EarthLabs Inc.
Tel: 647-345-7720
Email: investors@earthlabs.com
Neither the TSX Venture Exchange ("TSXV"), OTC Best Market "(OTCQX") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Forward -Looking Information
This news release contains certain forward-looking statements and forward-looking information within the meaning of applicable securities law. Such forward-looking statements and information include, but are not limited to, statements with respect to the business and assets of EarthLabs and its strategy going forward.
Forward-looking statements and information are frequently characterized by words such as "plan", "project", "intend", "believe", "anticipate", "estimate", and other similar words, or statements that certain events or conditions "may" or "will" occur. Although the Company's management believes that the assumptions made and the expectations represented by such statement or information are reasonable, there can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239208
FAQ
What is the purpose of EarthLabs' (SPOFF) vertical amalgamation with DigiGeoData?
Will EarthLabs (SPOFF) issue new shares for the February 2025 amalgamation?
How will the February 2025 amalgamation affect EarthLabs' (SPOFF) business operations?
What happens to DigiGeoData's assets and liabilities after the EarthLabs (SPOFF) amalgamation?
