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Feral X Systems Inc. (“FeralX” or the “Company”), previously named 1246777 B.C. Ltd., has changed its name from 124777 B.C. Ltd. to Feral X Systems Inc. The Company said the name change is the first step in executing its ultimate business plan.
The Company stated that “Feral X” is derived from the Latin word meaning “wild,” and said the name reflects its thesis that future “battlefields” will be determined by small, autonomous teams operating beyond legacy logistics—“working in small packs.”
FeralX also announced the closing of two financings: a founder-led seed round and a non-brokered private placement.
The Company said the redemption and call rights are exercisable if certain subsequent transactions contemplated in a letter of intent are not completed within 12 months.
Alongside the financings, FeralX said it has executed a non-binding letter of intent (“LOI”) with a principal of Next Dynamics Inc. and Black Creek Labs Inc. The LOI sets out principal terms for proposed asset acquisitions by FeralX from Next Dynamics Inc. and Black Creek Labs Inc., along with related financings and a contemplated TSX Venture Exchange direct listing.
The Company noted that the proposed transactions remain subject to negotiation and execution of definitive agreements, receipt of necessary disinterested shareholder and regulatory approvals, and satisfaction of customary closing conditions. The LOI contemplates good-faith negotiation of definitive documentation within 30 days of acceptance.
FeralX said completion of the broader transactions is also subject to conditional acceptance by the TSX Venture Exchange and the Company meeting applicable listing requirements. The LOI is non-binding, except for specified sections.
Feral X Systems Inc. described itself as a Canadian defence research, development and manufacturing company. The Company said that, upon completion of the transactions contemplated in the LOI, it will be positioned to design, build and deliver a “full capability stack” for the augmented warfighter, small arms, man-portable unmanned systems, and AI-enabled targeting as a single, integrated supplier.
The Company said the release contains forward-looking information, including statements regarding proposed transactions, financings, listings, execution of definitive agreements, receipt of approvals, and timing and completion of such matters. It said actual results may differ materially and that readers should not place undue reliance on forward-looking information. FeralX also stated it undertakes no obligation to update forward-looking information except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of the release.
James Ward, james@wardfinancial.ca
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