The TSX Venture Exchange has accepted for filing the documentation relating to an arm’s-length agreement for the acquisition of all the issued and outstanding shares of 9136-2897 Quebec Inc. (VoxTel) and Informationtelcharge, in consideration of a total purchase price of $3-million, including $1.45-million cash at closing, the assumption of a $200,000 line of credit, $600,000 as a balance of sale payable over five years starting six months after closing, and the issuance at closing of 5,612,514 common shares and 5,101,771 subscription receipts convertible into common shares having an aggregate deemed value of $750,000. Each subscription receipt is convertible into a common share, without payment of any further consideration, if, following that conversion, the holder would hold (directly or indirectly) less than 10 per cent or more of the company’s common shares, including those held by joint actors.
For further information, please refer to the company’s press releases dated June 9, Sept. 27 and Oct. 6, 2016.