Examples of Initial Acquisitions in a sentence
Post closing of the Initial Acquisitions certain principals of Novel have been appointed as officers of the Company to provide ongoing investment oversight services in respect of the Company’s plant-based investments.
In addition, the Company has agreed to pay Novel net profits interest shares in the Initial Acquisitions convertible up to an additional 65,031,826 common shares of the Company.
USE OF PROCEEDSThe Issuer shall use the Net Proceeds from the Initial Bond Issue to:(a) refinance the Existing Debt;(b) finance the Initial Acquisitions (including any earn-outs in respect of the Initial Acquisitions);(c) provided that the Initial Acquisitions have been completed, finance Add-on Acquisitions and payments of any earn-out obligations in respect of any acquisitions; and(d) finance general corporate purposes of the Group (including capital expenditures).
The Novel Consideration, the Finders’ Shares amounts and the NPI Consideration, totalling $53,559,381, have been expensed as transaction costs incurred for the Initial Acquisitions during fiscal 2021.
Private Investments, at Fair Value Through Profit or Loss (continued) In connection with the closing of the Initial Acquisitions the Company paid $750,000 and issued a total of 11,476,205 common shares of the Company, at a fair value of $7,344,771, to Novel for total consideration of $8,094,771 (the “Novel Consideration”) and issued a total of 6,006,626 common shares of the Company, at a fair value of $3,844,241, to finders (the “Finders’ Shares”).