Solegear Bioplastics goes public on TSX Venture
Solegear Bioplastic Technologies Inc has obtained a public listing on the TSX Venture Exchange following the close of a previously announced qualifying transaction with Rodeo Capital III Corp.
Solegear Bioplastics went public through the qualifying transaction with Rodeo Capital III, now known as SBTI, with a deemed value of approximately $10 million.
SBTI will be listed as a Tier 2 exchange issuer.
Solegear, a Vancouver-based maker of high-performance bioplastics products, has raised $4.2 million in a private placement financing and debt conversion.
Canadian venture capital firm Yaletown Venture Partners subscribed for Units in the aggregate amount of $300,000.
Since its inception in 2005, Solegear has received financing from Yaletown Venture Partners, Best Buy Capital (the venture capital investment arm of Best Buy) and private investors totalling over $4.7 million in equity and debt financing.
Upon closing, KPMG LLP, being Solegear’s auditor, was appointed as SBTI’s auditor.