• High Mountain 2 Capital Corp. (HMCC.P) has released details of its proposed arm’s length qualifying transaction involving a business combination with Interactive Health
  • IHI is a private digital technology development company focused on the medical and health education sector
  • High Mountain has signed a non-binding letter of intent with IHI to complete the transaction by way of a share purchase, plan of arrangement, etc
  • High Mountain 2 Capital Corporation is a capital pool company
  • High Mountain 2 Capital Corporation was unchanged at $0.21 at 1:46 PM ET

High Mountain 2 Capital Corporation (HMCC.P) has released details of its proposed arm’s length qualifying transaction.

The transaction involves a business combination with Interactive Health (IHI), a private company incorporated under the laws of British Columbia.

IHI is a private digital technology development company focused on the medical and health education sector.

IHI produces and sells digitally enhanced, interactive, competency-based learning tools for medical schools and healthcare learning centres to address the gap that exists between the theory and practice of medicine.

High Mountain has signed a non-binding letter of intent with IHI to complete the transaction by way of a share purchase, plan of arrangement, amalgamation, three-cornered amalgamation or alternate structure to be determined.

This is hinged on the duo having regard to relevant tax, securities and other factors and potentially including a pre-closing reorganization of IHI, to form the resulting issuer being called “Interactive Health International Inc.,” or such other name as may be determined by IHI.

In line with the proposed transaction, each issued and outstanding common share of IHI will be exchanged into one common share of new IHI on a one-for-one basis after giving effect to the consolidation.

Consequently, all of the currently issued and outstanding IHI shares will be exchanged for approximately 44,488,900 new IHI shares.

It is intended that the transaction, when completed, will constitute the corporation’s “qualifying transaction” in accordance with Policy 2.4 of the TSX Venture Exchange.

The LOI expires on November 30, 2022.

Shareholder approval is not required with respect to the transaction under the rules of the Exchange.

High Mountain 2 Capital Corporation is a capital pool company.

High Mountain 2 Capital Corporation was unchanged at $0.21 at 1:46 PM ET.


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