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TORONTO, June 17,
2022 /CNW/ - Cross Border Capital I Inc. (TSXV:
CBX.P) ("CBX" or the "Company") and Message Notify
Ltd. d/b/a SuperBuzz ("SuperBuzz") are pleased to
announce that (i) CBX has filed a final non-offering prospectus
dated June 16, 2022 (the
"Prospectus") with the securities regulatory
authorities in Ontario,
Alberta, British Columbia and in respect of the
Qualifying Transaction between CBX and SuperBuzz (the
"Transaction"); and (ii) CBX has received conditional
acceptance from the TSX Venture Exchange (the "TSXV") for
the Transaction. As a result of the foregoing, CBX and SuperBuzz
have satisfied all escrow release conditions under SuperBuzz's
previously announced brokered private placement of subscription
receipts (the "Subscription Receipt Financing"), and
gross proceeds of $2,197,896 were released from escrow, and
the subscription receipts were exchanged for an aggregate of
5,494,740 ordinary shares of SuperBuzz and 5,494,740 ordinary
share purchase warrants of SuperBuzz. The net proceeds from the
Subscription Receipt Financing will be used for the purposes
outlined in the Prospectus.
The Exchange has conditionally accepted the Transaction subject
to the Company fulfilling all of the requirements of the Exchange
on or before September 9, 2022. There
is no guarantee that the Company will be able to satisfy the
requirements of the Exchange such that the Exchange will issue the
Final Exchange Bulletin. See the section titled "The Proposed
Qualifying Transaction – Conditions to the Proposed Qualifying
Transaction Becoming Effective" of the Prospectus for further
particulars. The parties will provide a further update with respect
to the anticipated closing date of the Transaction and the listing
date. Additional information in respect of the Transaction, CBX and
SuperBuzz is provided in the Prospectus, which is available under
CBX's SEDAR profile at www.sedar.com.
About SuperBuzz
SuperBuzz offers solutions supplying a real-time marketing
automation platform that increases customer engagement through
dynamic push notification campaigns that deliver relevant,
personalized messages in micro-moments across mobile and desktop
platforms. SuperBuzz's value proposition comes in the form of its
AI-optimized bidding algorithm and fraud detection that guarantees
push delivery at the right time and in the appropriate context
needed to ensure maximum user retention. The system makes it easy
to segment users and create push notification tests while tracking
notifications in real-time and showing actual traffic quality,
including any fraudulent activity. SuperBuzz is a private company
that was incorporated under the laws of the State of Israel on January 10, 2018.
About Cross Border Capital I
Inc.
The Company is a CPC. It has not commenced commercial operations
and has no assets other than a minimum amount of cash. Except as
specifically contemplated in the policies of the Exchange, until
Completion of the Qualifying Transaction, the Company will not
carry on any business other than the identification and evaluation
of assets or businesses with a view to completing a proposed
Qualifying Transaction.
Further Information
All information contained in this news release with respect to
CBX and SuperBuzz was supplied by the parties respectively, for
inclusion herein, and each party and its directors and officers
have relied on the other party for any information concerning the
other party.
Completion of the Transaction is subject to a number of
conditions, including but not limited to, TSXV acceptance and, if
applicable, pursuant to the requirements of the TSXV, majority of
the minority shareholder approval. Where applicable, the
Transaction cannot close until the required shareholder approval is
obtained. There can be no assurance that the Transaction will be
completed as proposed or at all.
Investors are cautioned that, except as disclosed in the
Prospectus, any information released or received with respect to
the transaction may not be accurate or complete and should not be
relied upon. Trading in the securities of a capital pool company
should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the
merits of the proposed transaction and has neither approved nor
disapproved the contents of this press release.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION:
This news release includes certain "forward-looking
statements" under applicable Canadian securities legislation.
Forward-looking statements include, but are not limited to,
statements with respect to the completion of the Transaction and
listing. Forward-looking statements are necessarily based upon a
number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties,
and other factors which may cause the actual results and future
events to differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not
limited to: general business, economic, competitive, political and
social uncertainties; delay or failure to receive board,
shareholder or regulatory approvals. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. CBX disclaims any intention
or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
SOURCE Cross Border Capital I Inc.