![]() The introduction of separate legal personality will give statutory form to this approach.Īs a result of the share exchange between Hinterland and Novamind described above, the former shareholders of Novamind acquired control of the Company. On November 24, 2021, the Issuer announced the launch of a new logo and announced it will unite its subsidiaries and brands under a single Novamind brand. Subsequent to the Transaction, Hinterland changed its name to Novamind Inc. Issued to the former holders of Novamind Broker Warrants in connection with the Amalgamation.Īs Novamind is deemed to be the accounting acquirer for accounting purposes, its assets, liabilities and operations are included in the financial statements at their historical carrying value.įor the purposes hereof, all such withheld amounts shall be treated as having been paid to the person in respect of which such deduction and withholding was made on account of the obligation to make payment to such person hereunder, provided that such deducted or withheld amounts are actually remitted to the appropriate Governmental Entity by or on behalf of Novamind, Numinus or the Depositary, as the case may be. The consolidated financial statements of the combined entity are issued under the legal parent, Novamind Inc., but are considered a continuation of the financial statements of the legal subsidiary, Novamind Ventures Inc.The accounting for this transaction resulted in the following: The shares allocated to the former shareholders of Novamind on closing the RTO, were considered within the scope of IFRS 2, whereby the value in excess of the net identifiable assets or obligations of the Company acquired on closing was expensed to profit or loss as a listing expense. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |