Iplayco Corporation Limited (TSX VENTURE:IPC) ('Iplayco' or the 'Corporation') is pleased to announce that on December 20, 2019, it obtained a final order from the Court of Queen's Bench of Alberta (the 'Court') approving the plan of arrangement (the 'Arrangement').
All of the conditions precedent set out in the arrangement agreement between the Corporation, TSL, and Sharlene and Ivy Lim (the 'Guarantors'), have been satisfied or waived, and the Arrangement has now become effective. Pursuant to the Arrangement, the Iplayco shareholders will receive from TSL Cdn$0.50 in cash (the 'Consideration') per common share (each, an 'Iplayco Share') held by them. TSL acquired all of the issued and outstanding Iplayco Shares pursuant to the Arrangement in an all-cash transaction valued at $5.1 million, and Iplayco has become a wholly-owned subsidiary of TSL, a company controlled by the Guarantors. In order to receive the Consideration in exchange for Iplayco Shares, former registered shareholders of the Corporation must complete, sign, date and return the Letter of Transmittal that was mailed to each former registered shareholder. The Letter of Transmittal is also available: (i) from Iplayco's depositary, TSX Trust Company, which can be contacted by at: 1-866-600-5869 (North American Toll Free); 416-342-1091 (Toll); 416-361-0470 (Facsimile) or TMXEInvestorServices@tmx.com (E-Mail) or (ii) on SEDAR under the Corporation's profile at www.sedar.com. Non-registered holders of Iplayco Shares who hold their Iplayco Shares through a broker or other intermediary, should follow the instructions provided by their broker or other intermediary to obtain their Consideration. The Iplayco Shares are expected to be delisted from the TSX Venture Exchange effective as of the close of trading on January 2, 2020. Iplayco also will apply to cease to be a reporting issuer under applicable Canadian securities laws. Further details regarding the Arrangement can be found in the Corporation's Management Information Circular dated November 12, 2019 (the 'Circular'), which includes the full text of the Amended and Restated Plan of Arrangement, attached as Schedule B to the Circular. The Circular was mailed to the Shareholders on November 26, 2019 and is also available on SEDAR under the Corporation's profile at www.sedar.com.
About Iplayco Corporation Limited
Iplayco is a leading manufacturer of premium-quality, fun, safe and durable indoor playgrounds for children. In its 20-year history, Iplayco has supplied playgrounds to over 60 countries worldwide.
Contact:
Tel: 1 -604-607-1111
Cautionary & Forward-Looking Statements
This release contains forward-looking statements. All statements other than statements of present or historical fact are forward-looking statements, including statements regarding the completion of the Arrangement and receipt of Consideration by Iplayco shareholders. Forward-looking statements include words or expressions such as 'proposed', 'will', 'subject to', 'near future', 'in the event', 'would', 'expect', 'prepared to' and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political and social uncertainties; the state of capital markets and risks that may impact Iplayco's business, operations and financial condition. Although Iplayco believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Iplayco can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Additional information on these and other factors that could affect Iplayco's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). We disclaim any obligation to update or revise these forward-looking statements, except as required by applicable law.
Iplayco Corporation Ltd. is engaged in designing and supplying of indoor playgrounds for children. The Company operates in two segments: Manufacturing of play structures for children, from its production plants in Langley, British Columbia, Canada and Subic Bay, Philippines (Manufacturing), and Operating a family entertainment center in Langley, British Columbia, Canada (Family Entertainment Centre). Its indoor soft-play park for Billy Beez is a family entertainment center of approximately 2,316.79 square meters located in the Mall of Dhahran, Al Khobar, Saudi Arabia. The Company, through International Play Company Inc., offers both the individual air blower-based ballistics system/arena and the compressor powered pneumatic set-up. Its play products include Indoor Play, Air Trek, Ballistics Play, Theming, Outdoor Play, Outdoor Installs and Indoor Installs. Its ballistics arenas are all custom designed and include multiple levels, targets, ball fountains, ball dumps and ball movers.
IPLAYCO CORPORATION LTD. 
