VC-backed ZipLocal to complete RTO with weight loss coach Enthrive
ZipLocal Inc (TSXV: ZIP.H), a portfolio investment of Canadian venture capital firm Relay Ventures, has agreed to combine with Enthrive Inc through a reverse takeover. As part of the deal, the Toronto-based Enthrive, which operates an online and mobile marketplace for consumers interested in weight loss coaching, will raise a private placement of $7.5 million. Also based in Toronto, ZipLocal was formerly an independent online directory. Upon completion of the transaction, Enthrive shareholders, including investors under the private placement, will hold a majority of the common shares of the company.
14 July 2014•4 mins read
