Pardus Ventures Inc. Announces Closing of Previously Announced Subscription Receipt Financing
Summary
Pardus Ventures closed the first tranche of a non-brokered subscription receipt offering, issuing 30,000,000 subscription receipts for gross proceeds of $1.5M. The financing was conducted as a condition to Pardus’s proposed acquisition of EGL Technology Holdings, a Vietnam-based smart locker solutions provider with AI technologies and related IP. The escrowed proceeds will convert into Pardus shares upon satisfaction of closing conditions and will be used for transaction costs, purchasing smart lockers, R&D on Smart Box and Smartlocker System technology, recruitment, and general corporate costs. The transaction and listing remain subject to TSXV acceptance and other customary approvals, and trading in Pardus shares remains halted until completion.