15:03:05 EDT Sat 18 May 2024
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Yubba Capital files prospectus for business combination

2023-10-19 18:09 ET - News Release

Mr. Jason Smart reports

YUBBA CAPITAL CORP. ANNOUNCES FILING OF FINAL NON-OFFERING PROSPECTUS

Yubba Capital Corp. has filed with the relevant Canadian securities administrators a final non-offering prospectus in connection with its previously announced business combination in its news releases of Dec. 1, 2022, and April 20, 2023, with Impact Housing Corp., a company existing under the laws of the Commonwealth of the Bahamas, which is the parent company of Impact Housing Corp., a company existing under the laws of the Republic of Panama. Upon completion of the business combination, the company is expected to be renamed Impact Development Group Inc.

The business combination is expected to close on or about Oct. 31, 2023. The company has received conditional approval to list the resulting issuer's common shares on the TSX Venture Exchange in connection with the completion of the business combination. Subject to the final approval of the exchange, the company expects that trading of the resulting issuer's common shares will commence in the first week of November, 2023.

IHC is a Panamanian-based real estate developer, incorporated under the laws of the Republic of Panama on Feb. 15, 2017, that provides affordable housing supported by a long-standing subsidized government program with multiple product offerings. The principal business of IHC is to build and develop affordable and high-quality subsidized houses and in the Republic of Panama to support the middle-class market. The vision of IHC is effectuated by a vertically integrated model, which co-ordinates all services necessary to develop high-quality residential and commercial buildings, including, but not limited to, land acquisition, financing, architectural, engineering, off-site manufacturing, general contracting, property management and administration. IHC is incorporated under the laws of the Republic of Panama.

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