VM Agritech Limited (VMA) cancelled the acquisition of Bluewater Acquisition Corp (TSXV:BAQ.P).
Closing of the transaction is subject to a number of conditions including the satisfactory completion of due diligence, the completion of the private placement financing, receipt of all required shareholder, regulatory and third-party consents, including TSX Venture Exchange approval, and satisfaction of other customary closing conditions. Approval of the shareholders of Bluewater Acquisition will not be required in connection with the transaction. As of January 20, 2022, Bluewater Acquisition Corp. is pleased to announce that it has received conditional acceptance from the TSX Venture Exchange for the closing of its proposed qualifying transaction. The board of directors of BAQ has approved the execution and performance of this Agreement. The transaction is expected to close on or before January 31, 2022, or such other date as BAQ and VMA may determine. Management expects the terms of the acquisition will provide Bluewater with the necessary liquidity to satisfy its current obligations and remain a going concern. Bluewater Acquisition entered into an agreement, effective January 31, 2022, with VM Agritech to extend the deadline for the completion of their proposed qualifying transaction from January 31, 2022, to February 14, 2022. Glenn Warkentin and Adam Rock of Lindsey MacCarthy LLP acted as legal advisor to Bluewater Acquisition Corp. Patrick Martin of PTM Law and Nikolaos Galanopoulos of Galanopoulos & Company acted as legal advisor to VM Agritech Limited. Haines Watts (City) Llp acted as accountant to VM Agritech Limited. MNP LLP acted as accountant to Bluewater Acquisition Corp. Odyssey Trust Company acted as transfer agent to Bluewater Acquisition Corp.
VM Agritech Limited (VMA) cancelled the acquisition of Bluewater Acquisition Corp (TSXV:BAQ.P) on February 14, 2022. The conditions to Closing were not met as of that date, and so therefore the Share Exchange Agreement terminated on that date.