VC-backed Keek to trade on TSX Venture via $19M RTO
Keek Inc., a global interactive video content network, has closed going-public transition with Primary Petroleum Corporation.
The transaction, which constituted as a reverse take-over (RTO), involves Primary issuing approximately 190 million shares at a deemed price of $0.10 per share to Keek shareholders for a deemed valuation of $19 million.
New Keek shares are expected to commence trading on the TSX Venture under the ticker symbol “KEK” on or about Monday, March 10, 2014.
Pinetree Capital Ltd. (TSX: PNP), a shareholder of both Prime and Keek, and its joint actors will collectively hold an aggregate of 52,823,527 common shares of new Keek, representing approximately 15.4% of all issued and outstanding common shares.
Since its inception in 2010, Keek has raised over $25 million in equity financing and $5 million in convertible debt financing.
Keek’s backers include Pinetree, AGF Investments Inc., Plaza Ventures, Whitecap Ventures and private investors.