The TSX Venture-listed shell will issue shares to DeepGreenX shareholders as part of its qualifying transaction.
Green Panda Capital (TSXV: GPCC.P) announced a definitive agreement to acquire DeepGreenX Group Inc. through a reverse takeover. The deal qualifies as Green Panda’s required transaction under TSX Venture Exchange rules, allowing it to transition into an operating company.
Under the terms, Green Panda will issue shares to DeepGreenX shareholders in exchange for all outstanding shares of DeepGreenX. The transaction structure follows standard reverse merger protocols, enabling private companies to gain public listings without a traditional IPO.
No financial details or valuation metrics were disclosed in the announcement. The deal remains subject to regulatory and shareholder approvals.