Safe Supply Streaming Co Ltd. Announces Completion of Safety Strips Tech Corp. Acquisition
Safe Supply Streaming Co (SSPLF) has completed its acquisition of Safety Strips Tech Corp., a private company specializing in harm reduction products, through a three-cornered amalgamation. The deal involved issuing 74,000,000 common shares to Safety Strips shareholders at an exchange ratio of 1.2748 Safe Supply shares for each Safety Strips share.
The company also entered into a consulting agreement with Raf Souccar, featuring a monthly fee of $7,500, potentially payable in shares, which will increase to $10,000 following post-amalgamation financing. Additionally, Safe Supply issued 3,700,000 finder fee shares and 1,502,000 shares to settle $90,120 in debt. Following the transaction, Safe Supply has 165,325,225 total shares outstanding.
The acquired shares are subject to contractual resale restrictions, with one-third being released after four, eight, and twelve months following the amalgamation close or upon filing a Business Acquisition Report.
Safe Supply Streaming Co (SSPLF) ha completato l'acquisizione di Safety Strips Tech Corp., un'azienda privata specializzata in prodotti per la riduzione del danno, attraverso una fusione a tre angoli. L'accordo ha comportato l'emissione di 74.000.000 azioni ordinarie agli azionisti di Safety Strips a un rapporto di scambio di 1,2748 azioni di Safe Supply per ogni azione di Safety Strips.
L'azienda ha anche stipulato un accordo di consulenza con Raf Souccar, prevedendo una tariffa mensile di 7.500 dollari, potenzialmente pagabile in azioni, che aumenterà a 10.000 dollari dopo il finanziamento post-fusione. Inoltre, Safe Supply ha emesso 3.700.000 azioni come commissione per il mediatore e 1.502.000 azioni per saldare un debito di 90.120 dollari. Dopo la transazione, Safe Supply ha un totale di 165.325.225 azioni in circolazione.
Le azioni acquisite sono soggette a restrizioni contrattuali sulla rivendita, con un terzo delle azioni che sarà liberato dopo quattro, otto e dodici mesi dalla chiusura della fusione o alla presentazione di un Rapporto di Acquisizione Aziendale.
Safe Supply Streaming Co (SSPLF) ha completado su adquisición de Safety Strips Tech Corp., una empresa privada especializada en productos de reducción de daños, a través de una fusión en tres esquinas. El acuerdo implicó la emisión de 74.000.000 de acciones ordinarias a los accionistas de Safety Strips a una relación de intercambio de 1,2748 acciones de Safe Supply por cada acción de Safety Strips.
La empresa también firmó un acuerdo de consultoría con Raf Souccar, con una tarifa mensual de 7.500 dólares, que potencialmente se pagará en acciones, y que aumentará a 10.000 dólares tras el financiamiento posterior a la fusión. Además, Safe Supply emitió 3.700.000 acciones como honorarios por encontrar y 1.502.000 acciones para saldar una deuda de 90.120 dólares. Tras la transacción, Safe Supply tiene un total de 165.325.225 acciones en circulación.
Las acciones adquiridas están sujetas a restricciones contractuales de reventa, con un tercio liberado después de cuatro, ocho y doce meses tras el cierre de la fusión o al presentar un Informe de Adquisición Empresarial.
Safe Supply Streaming Co (SSPLF)는 Safety Strips Tech Corp.를 인수 완료했습니다. 이 회사는 피해 감소 제품을 전문으로 하는 사기업으로, 삼각합병을 통해 이루어졌습니다. 이 거래는 Safety Strips의 주주에게 74,000,000주를 발행하는 것으로, Safety Strips 주식 1주당 1.2748 Safe Supply 주식으로 교환되는 비율이 적용되었습니다.
회사는 또한 Raf Souccar와 컨설팅 계약을 체결했으며, 월 7,500달러의 수수료가 있으며, 이는 주식으로 지급될 수 있고, 합병 후 자금 조달이 이루어진 후 10,000달러로 증가할 것입니다. 또한, Safe Supply는 3,700,000주의 중개 수수료 주식과 90,120달러의 부채를 해결하기 위해 1,502,000주를 발행했습니다. 거래 후 Safe Supply는 총 165,325,225주의 발행 주식을 보유하고 있습니다.
인수된 주식은 계약상의 재판매 제한을 받으며, 합병 종료 후 4개월, 8개월, 12개월이 지나면 1/3이 해제되거나 사업 인수 보고서를 제출해야 합니다.
Safe Supply Streaming Co (SSPLF) a finalisé l'acquisition de Safety Strips Tech Corp., une entreprise privée spécialisée dans les produits de réduction des risques, par le biais d'une fusion triangulaire. L'accord a impliqué l'émission de 74.000.000 d'actions ordinaires aux actionnaires de Safety Strips à un ratio d'échange de 1,2748 actions Safe Supply pour chaque action Safety Strips.
L'entreprise a également conclu un accord de consultation avec Raf Souccar, prévoyant des frais mensuels de 7.500 dollars, potentiellement payables en actions, qui passeront à 10.000 dollars après le financement post-fusion. De plus, Safe Supply a émis 3.700.000 actions de frais de recherche et 1.502.000 actions pour régler une dette de 90.120 dollars. Suite à la transaction, Safe Supply dispose de 165.325.225 actions en circulation.
Les actions acquises sont soumises à des restrictions contractuelles de revente, un tiers étant libéré après quatre, huit et douze mois suivant la clôture de la fusion ou lors du dépôt d'un rapport d'acquisition d'entreprise.
Safe Supply Streaming Co (SSPLF) hat die Übernahme von Safety Strips Tech Corp., einem privaten Unternehmen, das sich auf Produkte zur Schadensminderung spezialisiert hat, durch eine Dreiecksfusion abgeschlossen. Der Deal umfasste die Ausgabe von 74.000.000 Stammaktien an die Aktionäre von Safety Strips zu einem Umtauschverhältnis von 1,2748 Safe Supply-Aktien für jede Safety Strips-Aktie.
Das Unternehmen hat außerdem einen Beratungsvertrag mit Raf Souccar abgeschlossen, der eine monatliche Gebühr von 7.500 US-Dollar vorsieht, die möglicherweise in Aktien bezahlt wird und nach der Fusion auf 10.000 US-Dollar ansteigt. Darüber hinaus hat Safe Supply 3.700.000 Findergebührenaktien und 1.502.000 Aktien ausgegeben, um eine Schuld von 90.120 US-Dollar zu begleichen. Nach der Transaktion hat Safe Supply insgesamt 165.325.225 ausstehende Aktien.
Die erworbenen Aktien unterliegen vertraglichen Verkaufsbeschränkungen, wobei ein Drittel nach vier, acht und zwölf Monaten nach Abschluss der Fusion oder nach Einreichung eines Geschäftsübernahmeberichts freigegeben wird.
- Strategic acquisition strengthens harm reduction technology portfolio
- No cash expenditure required for acquisition (share-based transaction)
- Debt settlement of $90,120 through share issuance
- Significant shareholder dilution with 74,000,000 new shares issued for acquisition
- Additional dilution from 3,700,000 finder fee shares and 1,502,000 debt settlement shares
- Increased monthly expenses from new $7,500-$10,000 consulting agreement
Toronto, Ontario--(Newsfile Corp. - February 21, 2025) - Safe Supply Streaming Co Ltd. (CSE: SPLY) (FSE: QM4) (OTCQB: SSPLF) ("Safe Supply" or the "Company") and Safety Strips Tech Corp., a private company ("SSTC" or "Safety Strips") are pleased to announce the closing of the Company's acquisition of Safety Strips, previously announced February 10, 2025, pursuant to which Safe Supply acquired all of the issued and outstanding common shares of Safety Strips. The transaction was effected by way of a three-cornered amalgamation under the Business Corporations Act (British Columbia) whereby Safe Supply amalgamated with a wholly owned subsidiary of Safe Supply (the "Amalgamation"). With the completion of the amalgamation, Safe Supply marks a pivotal step in Safe Supply's mission to combat the fentanyl crisis while driving innovation in harm reduction technologies.
Additionally, the Company entered into a consulting agreement previously announced on February 10, 2025 with Raf Souccar. Pursuant to the terms of the consulting agreement, the Company will pay Mr. Souccar a monthly consulting fee of
Geoff Benic, Chief Executive Officer of Safety Strips commented, "We are excited to join forces with Safe Supply to advance our shared mission of reducing harm and enhancing safety in communities. This acquisition will allow us to leverage Safe Supply's resources and expertise to accelerate the development and distribution of our life-saving harm reduction products."
Bill Panagiotakopoulos, Chief Executive Officer of Safe Supply commented, "The completion of this acquisition marks a significant milestone for Safe Supply. By integrating Safety Strips' innovative harm reduction technologies into our operations, we strengthen our ability to address critical issues surrounding substance abuse and public health. This partnership will enhance our capacity to deliver impactful solutions and expand our role as a leader in healthcare innovation."
Key Highlights
- Acquisition of Safety Strips strengthens Safe Supply's portfolio in harm reduction
- technologies.
- Completion of the Amalgamation creates an enhanced platform for scaling up operations.
- Consulting agreement with Raf Souccar to drive strategic initiatives in the Company's development.
Safety Strips Tech Corp. Overview
Safety Strips is a privately held company specializing in the development and commercialization of harm reduction products, including test strips for detecting illicit substances in drugs and alcohol. With a mission to reduce harm and enhance safety in communities, Safety Strips has developed a range of products aimed at preventing drug-related fatalities and supporting wellness.
Summary of the Amalgamation
Pursuant to the Amalgamation, the Company issued a total of 74,000,000 common shares to the former shareholders of Safety Strips to acquire all of the outstanding common shares of Safety Strips, representing 1.2748 common shares of Safe Supply for every common share of Safety Strips (the "Exchange Ratio"). The Safe Supply shares issued pursuant to the Amalgamation are subject to contractual resale restrictions, in accordance with which of the Common Shares will be released from lock-up on the later of: (i) the filing date of a Form 51- 102F4 - Business Acquisition Report ("BAR") in respect of the acquisition of Safety Strips; or (ii) one-third of the common shares of Safe Supply will be released from lock-up following the four, eight and twelve months periods after the Amalgamation close.
In addition, upon closing of the Amalgamation, the Company issued (i) 3,700,000 finder fee common shares as compensation for facilitating the introduction of the Company to Safety Strips; and (ii) 1,502,000 common shares to settle
Following the closing of the Amalgamation, there are 165,325,225 Safe Supply Shares issued and outstanding (including the issuance of 74,000,000 Safe Supply Shares issued to former Safety Strips shareholders pursuant to the Amalgamation).
About Safe Supply Streaming Co Ltd.
Safe Supply, a publicly traded company that is listed on the Canadian Securities Exchange, is focused on the acquisition, investment, and development of businesses within the medical, wellness, and technology sectors. The Company aims to drive sustainable growth and shareholder value by leveraging innovative, technology-driven solutions that address critical needs in healthcare and wellness.
For more details regarding the Company's projects, please visit Safe Supply's website at www.safesupply.com.
ON BEHALF OF THE BOARD,
Bill Panagiotakopoulos
Chief Executive Officer
For Further Information Contact:
Safe Supply Streaming Co Ltd.
Email: info@safesupply.com
Bill Panagiotakopoulos
Chief Executive Officer and Director
Email: bill@safesupply.com
Website: www.safesupply.com
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. These forward-looking statements are made as of the date of this news release. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions.
Forward-looking statements in this news release relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events, including the expected timing of closing of the Amalgamation. All forward-looking statements are based on Safe Supply's and its employees' current beliefs as well as various assumptions made by them and information currently available to them. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward looking statements and the parties have made assumptions and estimates based on or related to many of these factors. When relying on our forward-looking statements to make decisions with respect to Safe Supply, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Safe Supply does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on our behalf, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241756
FAQ
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