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Upon closing of the Transaction (the “ Closing”), it is expected that shareholders holding 64.11% of Rimstock will hold 72% of the issued and outstanding shares of the Resulting Issuer (the “ Resulting Issuer Shares”) and current shareholders of Captor Capital will hold 28% of the issued and outstanding Resulting Issuer Shares (on a non-diluted basis). The resulting issuer that will exist upon completion of the Transaction (the “ Resulting Issuer”) will change its business from cannabis to the electric and luxury vehicle industry. It is currently contemplated that the Transaction will be effected by way of a share exchange of common shares of the Company for common shares of Rimstock (the “ Share Exchange”).
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(CSE: CPTR FRANKFURT: NMVA STUTTGART: NMVA), (“Captor Capital” or the “Company”), is pleased to announce that it has entered into a binding letter of intent (the “ LOI”) dated July 15, 2022, with UK-based Rimstock Holdings Limited (“ Rimstock”) in respect of a proposed business combination pursuant to which the Company will acquire 64.11% of Rimstock in exchange for share capital in the Company and cash considerations, which will result in the reverse takeover of Captor Capital by Rimstock (the “ Transaction”). TORONTO, J(GLOBE NEWSWIRE) - Captor Capital Corp.