{"id":15072,"date":"2022-11-15T15:50:35","date_gmt":"2022-11-15T15:50:35","guid":{"rendered":"https:\/\/greywolfah.com\/?p=15072"},"modified":"2022-11-29T14:45:00","modified_gmt":"2022-11-29T14:45:00","slug":"grey-wolf-animal-health-corp-announces-completion-of-qualifying-transaction","status":"publish","type":"post","link":"https:\/\/greywolfah.com\/fr\/grey-wolf-animal-health-corp-announces-completion-of-qualifying-transaction\/","title":{"rendered":"GREY WOLF ANIMAL HEALTH CORP. ANNOUNCES COMPLETION OF QUALIFYING TRANSACTION"},"content":{"rendered":"\t\t
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Press Releases<\/div>
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GREY WOLF ANIMAL HEALTH CORP. ANNOUNCES COMPLETION OF QUALIFYING TRANSACTION \n<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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TORONTO, ONTARIO \u2013 November 15, 2022 \u2013<\/b> Grey Wolf Animal Health Corp. (formerly Magen Ventures I Inc., a capital pool company) (\u00ab\u00a0Grey Wolf\u00a0\u00bb<\/b> or the \u00ab\u00a0Company\u00a0\u00bb<\/b>) (TSXV:WOLF) is pleased to announce that, further to its news release dated November 2, 2022, it has completed the acquisition of all of the issued and outstanding securities of Grey Wolf Animal Health Inc. (\u00ab\u00a0Former Grey Wolf\u00a0\u00bb<\/b>) constituting its \u00ab\u00a0Qualifying Transaction\u00a0\u00bb within the meaning of the policies of the TSX Venture Exchange (the \u00ab\u00a0TSXV\u00a0\u00bb<\/b>) (the \u00ab\u00a0Qualifying Transaction\u00a0\u00bb<\/b>). In connection with the completion of the Qualifying Transaction, the common shares in the capital of Grey Wolf (the \u00ab\u00a0Grey Wolf Shares\u00a0\u00bb<\/b>) are expected to be listed on the TSXV under the ticker symbol \u00ab\u00a0WOLF\u00a0\u00bb. It is anticipated that trading of the Grey Wolf Shares under the new ticker symbol will commence on or about November 23, 2022.<\/p>

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Grey Wolf, founded by a veterinarian, is a diversified animal health company focused on bringing to market a broad portfolio of products that meet the unmet needs of veterinarians, pets and clinics across Canada. The primary focus of Grey Wolf is to source, in-license, acquire or compound innovative branded and generic products for commercialization in the vet channel in Canada.<\/p>

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Grey Wolf CEO Angela Cechetto stated, \u201cBacked by our founder Dr. Ian Sandler\u2019s vision, Grey Wolf is committed to improving the quality of life for animals and those who care for them. We are excited about this next step in our company\u2019s journey as we continue to grow our animal health platform\u201d.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Details of the Qualifying Transaction<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Prior to the completion of the Qualifying Transaction, the Company changed its name to \u201cGrey Wolf Animal Health Corp.\u201d (the \u00ab\u00a0Name Change<\/b>\u00ab\u00a0) and consolidated its outstanding share capital (the \u00ab\u00a0Consolidation<\/b>\u00ab\u00a0) on the basis of one post-Consolidation Grey Wolf Share for every 16.6667 pre-Consolidation Grey Wolf Share such that, immediately after giving effect to the Consolidation, there were approximately 3,599,995 Grey Wolf Shares issued and outstanding, as well as options and warrants to acquire approximately 552,000 Grey Wolf Shares. The Name Change and Consolidation were approved by the shareholders of the Company at an annual and special meeting of shareholders held on May 25, 2022.<\/p>

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The Qualifying Transaction was completed by way of a three-cornered amalgamation (the \u00ab\u00a0Amalgamation\u00a0\u00bb<\/b>) pursuant to which, among other things: (i) Former Grey Wolf amalgamated with a wholly-owned subsidiary of the Company incorporated for the purposes of the Amalgamation pursuant to the provisions of the Business Corporations Act (Ontario); (ii) all of the outstanding common shares in the capital of Former Grey Wolf (the \u00ab\u00a0Former GW Shares\u00a0\u00bb<\/b>) were cancelled and, in consideration therefor, the holders thereof received Grey Wolf Shares on the basis of one Grey Wolf Share for each Former GW Share held immediately prior to the Amalgamation (the \u00ab\u00a0Exchange Ratio\u00a0\u00bb<\/b>) at a deemed price of $2.00 per Grey Wolf Share; and (iii) the company resulting from the Amalgamation became a wholly-owned subsidiary of the Company.<\/p>

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In addition, at the effective time of the Amalgamation, outstanding options to purchase Former GW Shares, outstanding warrants to purchase Former GW Shares and outstanding broker warrants to purchase Former GW Shares were exchanged for options to purchase Grey Wolf Shares (\u00ab\u00a0Grey Wolf Replacement Options\u00a0\u00bb<\/b>), warrants to purchase Grey Wolf Shares (\u00ab\u00a0Grey Wolf Replacement Warrants\u00a0\u00bb<\/b>) and broker warrants to purchase Grey Wolf Shares (\u00ab\u00a0Grey Wolf Replacement Broker Warrants\u00a0\u00bb<\/b>), respectively, on the basis of the Exchange Ratio and on the same economic terms.<\/p>

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As of the date hereof, there are 31,032,222 Grey Wolf Shares outstanding, of which 27,432,227 Grey Wolf Shares, representing approximately 88.4% of the currently outstanding Grey Wolf Shares, are held by the former shareholders of Former Grey Wolf. In addition, an aggregate of 5,298,300 Grey Wolf Shares have been reserved for issuance upon the exercise of Grey Wolf Replacement Options, Grey Wolf Replacement Warrants, Grey Wolf Replacement Broker Warrants, pre-existing stock options of the Company and pre-existing broker warrants of the Company.<\/p>

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As of completion of the Qualifying Transaction, the directors of the Company are:<\/p>

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