Harmony Acquisitions Corp. (TSXV: MONY.P), a capital pool company incorporated in British Columbia in May 2021, entered a non-binding letter of intent dated August 4 with Vimy Pharmaceuticals Inc. The parties intend a reverse takeover of Harmony that would constitute its qualifying transaction under TSXV Policy 2.4. Harmony's shares are halted pending completion.
Consideration and the exchange ratio were not disclosed. Beacon Securities Inc. is acting as lead agent and sole bookrunner on a concurrent financing whose size and pricing the companies say will follow in a comprehensive release. Closing requires TSXV acceptance and, if applicable, majority-of-the-minority shareholder approval. The resulting issuer would be named Vimy Pharmaceuticals Corp.
For the venture board, the read is on which sectors are still clearing the CPC route. A pharmaceutical developer taking the qualifying-transaction path rather than a conventional prospectus suggests the shell market remains the faster listing mechanism for pre-revenue life sciences. The absence of disclosed terms at announcement is ordinary at the letter-of-intent stage, not a signal either way.