Digital Assets and Blockchain

The dealers in connection with Ether Capital Corporation's private offering of subscription receipts and reverse take-over transaction

Canaccord Genuity Corp., CIBC World Markets Inc., GMP Securities L.P.
Key Contact
Andrew W. Aziz

Partner, Corporate, Toronto

Team
Kevin Feng

Associate, Corporate, Toronto

 

On February 23, 2018, Ethereum Capital Inc. completed its private placement of subscription receipts for aggregate gross proceeds of $45 million. The offering was co-lead by Canaccord Genuity and CIBC Capital Markets and included GMP Securities. The proceeds were escrowed pending completion of a proposed reverse take-over bid involving Movit Media Corp.

On April 18, 2018, Ether Capital Corporation (formerly named Movit Media Corp.) (Ether Capital) announced that it has completed its previously announced reverse take-over transaction pursuant to which it has acquired all of the issued and outstanding shares of Ethereum Capital Inc. by way of a three-cornered amalgamation. As a result, subscription receipt holders received listed common shares in the capital of Ether Capital.

The completion of this transaction and commencement of public trading represents a critical step in Ether Capital’s mission. This will provide investors with the opportunity to invest in the first publicly listed company focused solely on the Ethereum ecosystem and to help drive industry-shifting disruptive technologies.

Ether Capital is a Toronto-based technology company whose objective is to become the central business and investment hub for the Ethereum ecosystem. Ether Capital will invest in Ethereum’s native utility token “Ether” as a strategic asset, and selectively invest in or acquire Ethereum-based businesses.

Osler, Hoskin & Harcourt LLP represented the dealers with a team consisting of Andrew Aziz and Kevin Feng (Corporate).

Value
$45 million
Date Closed
April 18, 2018
Lead Office
Toronto
Key Contact
Andrew W. Aziz

Partner, Corporate, Toronto

Team
Kevin Feng

Associate, Corporate, Toronto