{"url":"https://newsforagent.com/news/2026-11-04/aisix-solutions-lemarg-reverse-takeover","markdown_url":"https://newsforagent.com/news/2026-11-04/aisix-solutions-lemarg-reverse-takeover.md","title":"AISIX Solutions Sets Lemarg Reverse Takeover Terms","headline":"AISIX Solutions Details Lemarg Reverse Takeover With Up to $2 Million Financing","description":"AISIX Solutions updated terms of its reverse takeover by Lemarg Restoration, with Lemarg shareholders set to hold about 51% and a financing of up to $2 million.","section":"Mergers & Acquisitions","published_at":"2026-11-04T22:56:03+00:00","modified_at":"2026-11-04T22:56:03+00:00","author":"News Desk","key_takeaways":["AISIX Solutions and Lemarg Restoration updated terms of a proposed reverse takeover in which AISIX would be renamed Lemarg Group Inc.","Current Lemarg holders would own about 51% of the resulting issuer and current AISIX holders about 49% before financing, debt settlement and milestone shares.","Lemarg plans a private placement of up to 7,407,407 subscription receipts at $0.27 each for gross proceeds of $1.5 million to $2 million."],"companies":[{"name":"AISIX Solutions","is_primary":true,"profile_url":null,"website":"https://minervaintelligence.com"}],"source":{"publisher":"Stock Titan","title":"AISIX Details Proposed Lemarg Deal, Up to $2M Financing","url":"https://www.stocktitan.net/news/AISXF/aisix-solutions-inc-and-re-drying-equipment-inc-announce-update-to-yhsg21rwqzfe.html"},"other_sources":[],"tags":["Mergers & Acquisitions","AISIX Solutions"],"body_markdown":"AISIX Solutions Inc. And Re: Drying Equipment Inc., which does business as Lemarg Restoration, announced updated terms on November 4, 2026 for a proposed reverse takeover in which AISIX would be renamed Lemarg Group Inc. Current Lemarg shareholders would hold about 51% of the resulting company and current AISIX holders about 49% before financing, debt settlement and milestone share issuances. [Stock Titan](https://www.stocktitan.net/news/AISXF/aisix-solutions-inc-and-re-drying-equipment-inc-announce-update-to-yhsg21rwqzfe.html) published the announcement.\n\nAISIX is a wildfire risk assessment and analytics provider listed on the TSX Venture Exchange under the symbol AISX. Lemarg is a Canadian insurance-focused property restoration and emergency response company that provides restoration, remediation, reconstruction and related services to insurers, adjusters, property owners, contractors and commercial clients.\n\n## How the AISIX and Lemarg Amalgamation Is Structured\n\nThe companies expect the transaction to take the form of a three-cornered amalgamation in which Lemarg merges with a newly incorporated, wholly owned AISIX subsidiary formed for the purpose. The amalgamated company would be a wholly owned subsidiary of AISIX, renamed Lemarg Corp. Or another name acceptable to Lemarg. The amalgamation agreement between the two companies was signed on June 11, 2026 and negotiated at arm's length.\n\nUnder the agreement, the resulting issuer would issue up to 8,529,376 milestone shares to Lemarg shareholders on completion of certain milestones. The resulting issuer expects to list as a Tier 2 Industrial Issuer.\n\n## Lemarg's Subscription Receipt Financing\n\nBefore the transaction closes, Lemarg intends a non-brokered private placement, on a post-consolidation basis, of up to 7,407,407 subscription receipts at $0.27 each. That would raise minimum gross proceeds of $1.5 million and a maximum of $2 million, with the funds held in escrow until escrow release conditions are met. Each receipt would convert into one Lemarg share immediately before closing, which would then be exchanged for one resulting issuer common share. Completion of the financing is a condition of the transaction.\n\nLemarg may pay eligible finders a cash fee of 7% and issue finder warrants equal to 7% of the receipts sold, each exercisable at $0.27 for twenty-four months after closing. Half of the fee is payable at closing of the financing and half on satisfaction of the escrow release conditions.\n\nAISIX also intends to settle $454,390 of debt owed to 1821 Capital Corp., a company owned and controlled by Chairman and director Mihalis Belantis, by issuing about 1,682,925 resulting issuer shares at $0.27 each. The resulting issuer is expected to issue 3,000,000 options to certain directors, officers and consultants, exercisable at $0.27 for five years.\n\n\"Lemarg has spent more than 15 years building the operational expertise, relationships and service capabilities required to respond effectively when our customers need us most,\" said Russell Elensky, President of Lemarg.\n\n## Approvals AISIX and Lemarg Still Need\n\nCompletion remains subject to conditions including the minimum financing, shareholder approval from both companies, regulatory approval including the exchange, and a management information circular or filing statement. The conditions also include a ten-for-one consolidation of AISIX common shares and the name change to Lemarg Group Inc.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}