Proactive Plans Reverse-Takeover with Evergreen for Enhanced Capital Access to Accelerate AI Products
–News Direct–
Proactive Group Holdings Inc. (Proactive), the AI-powered digital stakeholder engagement company, announces it has signed a non-binding Letter of Intent (LOI) with Evergreen Acquisitions Corp. (Evergreen). The proposed transaction is expected to constitute a reverse-takeover transaction and will be structured following the review and consideration by the parties of applicable tax, securities, corporate law, and other relevant considerations and will be subject to standard closing conditions, including receipt of any required regulatory or shareholder approvals.
The proposed transaction will be conditional on Proactive and Evergreen receiving the approval to list the resulting companys common shares on a senior stock exchange in Canada.
The proposed transaction is designed to provide Proactive with better access to capital to accelerate its investment in AI products and consider any potential acquisition opportunities. Proactive has so far utilized its own financial resources and access to corporate debt to make multiple acquisitions. Most recently, the company has completed two acquisitions of corporate website solutions businesses, in Canada and Australia.
Proactive chief executive Ian Mclelland said: The proposed transaction with Evergreen comes at an important strategic point for the business as we look to grow with the aim of creating a leading AI-powered issuer services company. The proposed transaction would provide us with potential access to growth capital to accelerate multiple opportunities, and to introduce AI products to both new customers and our current 2,000 clients alike.
Enquiries
Craig Ribton, Proactive ([email protected])
Jonathan Held, Evergreen ([email protected]).
Notice Regarding Forward-Looking Information
Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and obtaining regulatory and shareholder approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking information. The Company undertakes no obligation to update forward-looking information except as otherwise may be required by applicable securities law.
ABOUT PROACTIVE GROUP HOLDINGS
At Proactive, our mission is to provide best-in-class AI-powered digital solutions to companies across the globe seeking to improve engagement with their stakeholders. Our products deliver media support, corporate websites, engagement analytics, and shareholder tools for publicly listed issuers. Our purpose is to help companies improve their communication and engagement with their shareholders, stakeholders, and the broader investment community. Proactive provides solutions to almost 2,000 companies in Australia, Canada, UK, and USA.
Contact Details
Proactive Group Holdings
Craig Ribton
Company Website
View source version on newsdirect.com: https://newsdirect.com/news/proactive-plans-reverse-takeover-with-evergreen-for-enhanced-capital-access-to-accelerate-ai-products-274600445
Proactive Group Holdings
COMTEX_445299752/2655/2023-12-21T15:12:31
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No News Postbox journalist was involved in the writing and production of this article.
