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Solution Financial Inc. — Regulatory Filings 2021
Jun 14, 2021
46163_rns_2021-06-14_9097b52e-cfdf-4842-8e99-bede4c9c5f13.pdf
Regulatory Filings
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FORM 51–102F3 MATERIAL CHANGE REPORT UNDER NATIONAL INSTRUMENT 51-102
Item 1 Name and Address of Company
Solution Financial Inc. (the “ Company ”) Unit 137 – 8680 Cambie Road Richmond, BC V6X 4K1
Item 2 Date of Material Change
June 4, 2021
Item 3 News Release
A news release dated June 4, 2021 was disseminated through the facilities of Newsfile and filed on SEDAR.
Item 4 Summary of Material Change
The Company announced that it has closed its short form prospectus offering and has issued an aggregate of 5,936,042 units for gross proceeds of $2,374,416.80.
Item 5 Full Description of Material Change
5.1 Full Description of Material Change
The Company announced that it has closed its previously announced short form prospectus offering (the “ Offering ”) and has issued an aggregate of 5,936,042 units (the “ Units ”) at a price of $0.40 per Unit for gross proceeds of $2,374,416.80.
Each Unit was composed of one common share in the capital of the Company (a “ Common Share ”) and one-half of one common share purchase warrant (each full warrant, a “ Warrant ”). Each Warrant entitles the holder to purchase one additional Common Share of the Company at an exercise price of $0.50 per Common Share until June 4, 2022.
The Offering was led by iA Private Wealth Inc. (the “ Agent ”). The Agent received (i) a cash commission of $89,080, and (ii) 167,025 warrants (the “ Agent’s Warrants ”). Each Agent’s Warrant entitles the Agent to acquire one Common Share at an exercise price of $0.50 per Common Share until June 4, 2022.
The Company intends to use the proceeds of the Offering for operating lease capital to support existing and new dealership leasing opportunities in Western Canada and Ontario.
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5.2 Disclosure for Restructuring Transactions
Not applicable
Item 6 Reliance on subsection 7.1(2) or (3) of National Instrument 51–102
Not applicable
Item 7 Omitted Information
Not applicable
Item 8 Executive Officer
Sean Hodgins, Chief Financial Officer Phone: (778)-318-1514 Email: [email protected]
Item 9 Date of Report June 14, 2021
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