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Reeflex Solutions Inc. Announces Completion of Qualifying Transaction

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CALGARY, Alberta, May 22, 2025 (GLOBE NEWSWIRE) -- Reeflex Solutions Inc. (TSXV: RFX) (formerly Bigstack Opportunities I Inc., a capital pool company) (“Reeflex”) is pleased to announce that it has successfully completed its previously announced “Qualifying Transaction” pursuant to TSX Venture Exchange (“TSXV”) Policy 2.4 – Capital Pool Companies (the “Qualifying Transaction”). Reeflex received conditional approval from the TSXV for the Qualifying Transaction and a filing statement dated April 14, 2025 (the “Filing Statement”) with respect to the Qualifying Transaction can be found on Reeflex’s SEDAR+ profile at www.sedarplus.ca.

Trading in the common shares of Reeflex (“Reeflex Shares”) was previously halted at the request of Reeflex in connection with the initial announcement of the Qualifying Transaction and is expected to resume under the new ticker symbol “RFX” on the TSXV in two business days following the date of issuance of the bulletin by the TSXV evidencing final acceptance of the Qualifying Transaction. The new CUSIP number is 75846K105 and the new ISIN is CA75846K1057 for the Reeflex Shares.

“Completing this Qualifying Transaction marks a significant milestone for Reeflex Solutions Inc.,” said John Babic, President and CEO of Reeflex. “Our vision to transform and expand the capabilities of Coil Solutions Inc. is now supported by the resources and opportunities of a public company. We are excited to leverage this new platform to continue driving innovation and delivering value to our stakeholders.”

Summary of the Qualifying Transaction

In connection with the Qualifying Transaction, Reeflex changed its name from “Bigstack Opportunities I Inc.” to “Reeflex Solutions Inc.”.

Pursuant to the Qualifying Transaction:

Reeflex Coil Solutions Inc. (the “Target”) completed an acquisition of all of the issued and outstanding shares in the capital of Coil Solutions Inc. (“Coil”) from all of the shareholders of Coil for aggregate consideration of $5.8 million, subject to a post-closing working capital adjustment;
the Target completed a non-brokered private placement of 4,139,500 subscription receipts (each, a “Subscription Receipt”) at a price of $0.20 per Subscription Receipt for aggregate gross proceeds of $827,900. Each Subscription Receipt converted into one common share in the capital of the Target (the “Target Share”) prior to a three-cornered amalgamation (the “Amalgamation”) described below resulting in each holder of a Subscription Receipt receiving one Reeflex Share for each Subscription Receipt held; and
Reeflex completed the Amalgamation pursuant to which (i) the Target amalgamated with 2704122 Alberta Ltd., a wholly-owned subsidiary of Reeflex, under the Business Corporations Act (Alberta), (ii) all of the issued and outstanding Target Shares immediately prior to the Amalgamation were cancelled and, in consideration therefor, the holders thereof received one Reeflex Share on the basis of one Target Share for one Reeflex Share and (iii) the amalgamated corporation, named Reeflex Coil Solutions Inc. (“Reeflex Coil”), is a wholly-owned subsidiary of Reeflex and Coil is a wholly-owned subsidiary of Reeflex Coil.

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