On August 14, 2024, the Company announced the third amendment to alter certain closing conditions that must be met in the Amalgamation Agreement.extending the Outside Date (as such term is defined in the Amalgamation Agreement) for completion of the Proposed Transaction to October 10, 2024;extending the date by which the Concurrent Financing (as such term is defined in the Amalgamation Agreement) must be committed to September 3, 2024;reducing the minimum aggregate size of the Concurrent Financing (as such term is defined in the Amalgamation Agreement) from $15 million to $7.5 million;extending the date by which Conavi financial statements must be completed to August 23, 2024;reducing the minimum net cash Titan must have at the Effective Time (as such term is defined in this Amalgamation Agreement) from US$5 million to US$2 million;extending the targeted date by which the information circular for the Titan AGM must be mailed to shareholders to September 3, 2024;extending the targeted date by which the Titan AGM must be held to September 30, 2024;extending the targeted date by which the information circular for the Conavi annual general meeting must be mailed to shareholders to September 3, 2024; andextending the targeted date by which the Conavi annual general meeting must be held to September 30, 2024.
These forward-looking statements reflect management’s current beliefs with respect to future events, and are based on information currently available to management that, while considered reasonable by management as of the date on which the statements are made, are inherently subject to significant business, economic and competitive uncertainties and contingencies which could result in actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking statements.
Although the forward-looking statements contained in the news release are based upon what management currently believes to be reasonable assumptions and Titan has attempted to identify important factors that could cause actual actions, events, conditions, results, performance or achievements to differ materially from those described in forward-looking statements, Titan cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements.
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