VANCOUVER, BC / ACCESSWIRE / June 5, 2020 / HemaGenetics Technologies Corp. (the “Company”) is pleased to announce that it has set the share distribution record date for the Arrangement with 1207326 B.C. LTD., 1207331 B.C. LTD., 1207334 B.C. LTD., 1207335 B.C. LTD., 1207378 B.C. LTD., 1207380 B.C. LTD., 1207382 B.C. LTD., 1208614 B.C. LTD., 1209629 B.C. LTD., 1209631 B.C. LTD., 1210352 B.C. LTD., and 1211319 B.C. LTD. (collectively, the “Subsidiaries”) as at the end of business day on June 5, 2020, which is the record date for the shareholders of the Company who would receive 8,502,104 common shares of each of the Subsidiaries upon the effective (distribution and spin out) date of the Arrangement with each of the Subsidiaries, subject to any conversion factor as established by the Board of Directors of the Company pursuant to the Arrangement.
On July 8, 2019, the Company entered into an arrangement agreement (the “Arrangement Agreement”) with its wholly owned subsidiaries 1207326 B.C. LTD., 1207331 B.C. LTD., 1207334 B.C. LTD., 1207335 B.C. LTD., 1207378 B.C. LTD., 1207380 B.C. LTD., 1207382 B.C. LTD., 1208614 B.C. LTD., 1208616 B.C. LTD., 1209629 B.C. LTD., 1209631 B.C. LTD., 1210352 B.C. LTD., and 1211319 B.C. LTD. (collectively, the “Subcos”), to effect an arrangement pursuant to a plan of arrangement with each of the foregoing parties (the transaction being the “Arrangement”). Under the Arrangement, the Company proposes to transfer certain of its assets to the mentioned subsidiaries, which will ultimately conclude with the issuance of shares of such subsidiaries to the Company’s shareholders in exchange for such asset transfers. Pursuant to the Arrangement Agreement, each of the share distribution record dates and effective dates for the Arrangement can be set separate for each of the Subcos. The Company received unanimous shareholder approval at its annual general and special meeting of shareholders held on August 9, 2019 and Supreme Court of British Columbia approval on August 27, 2019 with respect of the Arrangement Agreement and Arrangement. For more information on the Arrangement, please refer to the copy of the Arrangement Agreement filed on July 12, 2019, and news releases issued on July 9, 2019, August 15, 2019 and August 29, 2019, all filed and available on the Company’s SEDAR profile accessible at www.sedar.com.
For further information please contact:
J. Scott Munro, CEO and Director
Hemagenetics Technologies Corp.
Cautionary Note Regarding Forward Looking Information
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company such as the statement that: (i) the Arrangement may be effected or final court order for the same obtained; and (ii) shareholders may receive 100% of the shares of each of the other parties to the Arrangement under the Arrangement Agreement. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) the inability to complete the Arrangement; and (ii) other factors beyond the Company’s control. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update this news release or any information herein.
SOURCE: HemaGenetics Technologies Corp.
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