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A total of 33,689,869 common shares were voted at the Meeting, representing 96.10% of the Corporation's issued and outstanding common shares on the record date for notice of the Meeting. The Share Consolidation Resolution received the affirmative vote of 100% of the votes cast at the Meeting including 100% of the votes cast by minority shareholders (that excludes votes cast by
Following the Meeting, articles of amendment were filed to effect the Consolidation. As a result of the Consolidation, ARC Fund II became the sole shareholder of the Corporation and the going-private transaction was completed.
The common shares were consolidated on the basis of one post-Consolidation common share for every 2,228,612 pre-Consolidation common shares outstanding. Each former holder of a pre-Consolidation common share is entitled to receive
The Corporation will apply to delist its common shares from the Canadian Securities Exchange. The Corporation has also applied to cease to be a reporting issuer where required and to cease to be an "offering corporation" under
Forward-Looking Information and Statements
Forward-Looking Information and Statements This news release contains certain forward-looking information and statements (collectively referred to herein as "Forward-Looking Statements") within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify Forward-Looking Statements. Forward-Looking Statements are based on a number of expectations or assumptions, which have been used to develop such information and statements but which may prove to be incorrect. Although the Corporation believe the expectations and assumptions reflected in such Forward-Looking Statements are reasonable, undue reliance should not be placed on Forward-Looking Statements because Cautivo can give no assurance that such expectations and assumptions will prove to be correct. The Forward-Looking Statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors, which may cause actual results or events to differ materially from those anticipated in such Forward-Looking Statements, including, without limitation, (i) those risks listed under the heading "Risk Factors" in the Company's Interim MD&A dated
The Canadian Securities Exchange ("CSE") has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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