Capricorn Business Acquisitions Inc.’s C$32 Million Acquisition of Canada Computational Unlimited Inc.

McCarthy Tétrault  LLP advised Canada Computational Unlimited Inc. on the transaction.

On September 7, 2021, Canada Computational Unlimited Inc., was acquired by Capricorn Business Acquisitions Inc. effected through a reverse takeover structured as court-approved plan of arrangement under Section 414 of the Business Corporations Act (Québec). 

Canada Computational Unlimited Inc. also completed a private placement of subscription receipts for proceeds of C$4.3 million, which closed concurrently with the transaction, investors in which include True Global Ventures 4 Plus Fund Pte Ltd, a Singapore based investment fund targeting blockchain. 

Canada Computational Unlimited Inc. is a bitcoin mining company based in Joliette, Québec, and created in 2017. Canada Computational Unlimited Inc. uses hydropower to mine Bitcoin, Ether and other cryptocurrencies. 

Capricorn Business Acquisitions Inc. (now Canada Computational Unlimited Corp.) was a capital pool company listed on the NEX board of the TSX Venture Exchange. 

The transaction, which valued the combined company at C$32 million, constituted Capricorn Business Acquisitions Inc.’s qualifying transaction and Canada Computational Unlimited Inc.’s shares started trading on September 16, 2021, on the TSX Venture Exchange under the symbol “SATO”. 

McCarthy Tétrault  LLP advised Canada Computational Unlimited Inc. with a team led by Philippe Leclerc (Picture) and Laure Fouin that included Alexandre Saulnier-Marceau, Alexis Hudon, Achille Treuil, Annie Poirier-Simard and Marie-Josée Nadeau (Securities), Jean Lortie, Catherine Bélanger-Pâquet, Charlotte Simard-Zakaïb and Érika Blackburn-Verreault (Litigation), Marie-Soleil Landry, Kassandra Grenier, and Geneviève Favreau (Tax).

 

 

Involved fees earner: Laure Fouin – McCarthy Tétrault; Catherine Bélanger-Pâquet – McCarthy Tétrault; Geneviève Favreau – McCarthy Tétrault; Kassandra Grenier – McCarthy Tétrault; Alexis Hudon – McCarthy Tétrault; Marie-Soleil Landry – McCarthy Tétrault; Philippe Leclerc – McCarthy Tétrault; Jean Lortie – McCarthy Tétrault; Alexandre Saulnier-Marceau – McCarthy Tétrault; Charlotte Simard-Zakaïb – McCarthy Tétrault;

Law Firms: McCarthy Tétrault;

Clients: Canada Computational Unlimited Inc. ;

Author: Martina Bellini