On November 10, 2020, Ruckify Inc. and Apolo III Acquisition Corp. entered into a binding letter of intent pursuant to which Ruckify will complete a reverse take-over of Apolo. Upon completion of the transaction, the combined company will carry on the business of Ruckify with its securities listed for trading on the TSX Venture Exchange.
In addition, Ruckify announced a $5 million financing whereby Ruckify proposes to issue common shares at a price of $4.00 per share. The offering is expected to close on or about November 30, 2020.
Cassels is acting for Ruckify with a deal team that includes Jonathan Sherman, Jamie Litchen, Tayyaba Khan and Thea Gaertner (Securities).