CAG Secures EUR25 Million Capital Commitment from GEM
Baar, Switzerland, TX -January 26, 2021 - CAG International AG, a
company publicly traded on the Vienna Direct MTF, (Ticker Symbol: CAG:AV
ISIN: CH0505534542 ) ("CAG International" or the "Company") announced
yesterday that it has signed an agreement with GEM Yield Bahamas Limited
and GEM Global Yield LLC SCS (collectively "GEM"), the Luxembourg based
private alternative investment group, to provide CAG with up to EUR 25
million over a 3-year period (the "Facility").
The EUR 25 million will be in the form of a capital commitment that
allows the Company to draw down funds during the 3-year term by issuing
shares of the Company's common stock to GEM (or such persons or entities
as GEM may direct) subject to share lending arrangement(s) being in place.
The Facility requires GEM to subscribe for ordinary shares of CAG at a
price determined by certain historic price and volume data up to a
maximum amount of a total EUR 25 million under the Facility.
GEM has agreed, subject to certain customary exceptions, to a leakage
agreement/lock-up arrangement limiting any share sales for the duration
of the agreement.
The net proceeds from any facility drawdown will be used to further
develop the business of CAG and to fund working capital requirements of CAG.
The Facility also provides that CAG shall issue warrants to GEM Global
Yield LLC SCS for a further 1,880,000 ordinary shares.
CAG expects to make the first facility drawdown at the earliest
opportunity. The price per share for such initial drawdown is expected
to be between EUR 10.75 and EUR 12.00.
The Company will control the timing and maximum amount of each drawdown
under this facility and has no minimum drawdown obligation.
CAG Founder and Chairman Hans Amell commented, "with this funding
facility in place, the Company expects to rapidly execute on its
acquisition and 'Carve Outsourcing' model. We have already identified a
number of acquisition targets in the United States. The consummation of
this financing provides us the flexibility and capital to implement our
About CAG International AG
CAG International AG develops, markets and operates global outsourced
corporate training solutions and corporate agility training. The
Company, through its wholly owned subsidiary CAG Sweden AB owns MCLP Sweden.
CAG provides an elegant and seamless solution, tailored to match each
clients' needs in the form of full-service training organization,
catering to all their unique training needs. Using our special carve-out
methodology, CORE, CAG acquires the client's training personnel and
systems. It absorbs them into CAG's own infrastructure. This is done in
return for a multi-year training contract (SLA) between CAG and the
About GEM Group
Global Emerging Markets ("GEM") is a USD3.4 billion alternative investment
group based in Paris, New York and Los Angeles. GEM manages a diverse
set of investment vehicles focused on emerging markets that provide the
group and its investors with a diversified portfolio of asset classes
that span the global private investing spectrum. Each investment vehicle
has a different degree of operational control, risk-adjusted return and
liquidity profile. The family of funds and investment vehicles provide
GEM and its partners with exposure to: Small-Mid Cap Management Buyouts,
Private Investments in Public Equities (PIPEs) and select venture
investments. For more information: http://www.gemny.com
Certain statements in this press release that are not historical facts
are forward-looking statements that reflect management's current
expectations, assumptions, and estimates of future performance and
economic conditions, and involve risks and uncertainties that could
cause actual results to differ materially from those anticipated by the
statements made herein. Forward-looking statements are generally
identifiable by the use of forward-looking terminology such as
"believe," "expects," "may," "looks to," "will," "should," "plan,"
"intend," "on condition," "target," "see," "potential," "estimates,"
"preliminary," or "anticipates" or the negative thereof or comparable
terminology, or by discussion of strategy or goals or other future
events, circumstances, or effects. Moreover, forward-looking statements
in this release include, but are not limited to, the impact of the
current COVID-19 pandemic, which may limit access to the Company's
facilities, customers, management, support staff and professional
advisors, and to develop and deliver services and products. The
Company's forward-looking statements could be affected by many factors,
including, but not limited to, the Company's ability to commercialize,
demand for the Company's products and services, economic conditions in
the U.S. and worldwide, and the Company's ability to recruit and retain
management, technical, and sales personnel. Further information relating
to factors that may impact the Company's results and forward-looking
statements are disclosed in the Company's filings with the Securities
and Exchange Commission. The forward-looking statements contained in
this press release are made as of the date of this press release, and
the Company disclaims any intention or obligation, other than imposed by
law, to update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise.
CAG International AG
6340 Baar, Switzerland
GEM Global Emerging Markets
CUB Financial Centre, GF5