On May 10, 2021, Tantalus Systems Holding Inc., a Burnaby based smart-grid technology company, completed its listing on the Toronto Stock Exchange under the symbol “GRID”. Tantalus’ listing on the Toronto Stock Exchange follows the completion of the company’s $90 million Qualifying Transaction and corresponding listing on the TSX Venture Exchange on January 29, 2021. The Qualifying Transaction was completed by way of a court-approved plan of arrangement under the Canada Business Corporations Act, among RiseTech Capital Corp., a capital pool company listed on the TSX Venture Exchange, Tantalus Systems Holding Inc., and its parent company, Tantalus Systems Shareholder Inc.
In connection with the Qualifying Transaction and subsequent listing on the TSX Venture Exchange, Tantalus completed a subscription receipt financing for aggregate gross proceeds of approximately $10 million, with proceeds from the financing being used for the acceleration of several strategic growth initiatives with respect to delivering innovative smart grid solutions to public power and electric cooperative utility customers.
Tantalus is a smart grid technology company that transforms aging one-way grids into future-proofed multi-directional grids that improve the efficiency, reliability and sustainability of public power and electric cooperative utilities across North America and the Caribbean Basin.
Osler, Hoskin & Harcourt LLP advised Tantalus Systems Holdings Inc. with a team consisting of Trevor Scott, Ian Morrison, Jeremy Brisset, Daniel Stysis, Nicole Ladeur (Corporate), Mark Longo (Emerging and High Growth Companies), Lynne Lacoursiere, Kelly O’Ferrall, Shaun Parker, Briana MacEachern (Employment) and Tim Hughes (Taxation).