In order to achieve its strategic business development objectives, Lightspace Technologies, an associate of HansaMatrix, has started the process to become a publicly listed company in North America on the TSX Venture Exchange in Toronto.  Funding will be raised through private investor contributions.

This decision is based on an assessment of strategic development opportunities and the difficult investment climate in the region. Details of the listing will be disclosed in accordance with regulatory requirements.

HansaMatrix, through its subsidiary Lightspace Holding, owns 67.7% of Lightspace Technologies. HansaMatrix’s shareholding in the company will be reduced by the conversion of convertible loans received from third parties prior to listing on the stock exchange.

Last year, HansaMatrix started the process of evaluating strategic alternatives, Labs of Latvia wrote. According to the stock exchange’s announcement, the process could result in one or more transactions, such as a strategic or financial investor acquisition, the sale of part of the company’s business, a group reorganization, including the spin-off of Lightspace Technologies’ shareholding into a new company.

According to Labs of Latvia, earlier this year, HansaMatrix started a reorganization process to separate the company’s shares in Lightspace Holding from HansaMatrix, establishing AS Lightspace Holding.

Source: Labs of Latvia