Faster Updates on Business Combination with Evolution Global and Concurrent Financing

TORONTO, ON / ACCESSWIRE / June 28, 2024 / Faster ("the Company") provided an update on its proposed business combination with Evolution Global Frontier Ventures Corp. ("Evolution Global"). The initial submissions, including a draft listing statement, are under review by the Canadian Securities Exchange (CSE). Upon closing, the combined entity will be named Faster Corp., and its shares will trade under the ticker "FSTR," subject to approvals.

"Listing on a recognized exchange like the CSE will unlock shareholder value and help achieve our strategic goals," stated Andra Enescu, CEO of Faster. However, the CSE has not conditionally approved the listing, which may be delayed or not happen.

Concurrent with the transaction closing, Faster plans a non-brokered private placement of subscription receipts at $0.15 each. These receipts convert to units consisting of one share and one warrant, allowing purchase of additional shares at $0.22 for 24 months. Proceeds will support general corporate purposes if release conditions are met; otherwise, funds will be returned to subscribers.

The securities offered will not be registered under the U.S. Securities Act of 1933 and are not for sale in the U.S. The closing of both the transaction and financing depend on several conditions, and there is no assurance they will be completed as planned.