TSX VENTURES COMPANIES
ADVENT WIRELESS INC. ("AWI")
BULLETIN TYPE: Change of Business
BULLETIN DATE: January 12, 2017
TSX Venture Tier 2 Company
TSX Venture Exchange Inc. (the "Exchange") has accepted for filing Advent Wireless Inc.'s ("Advent") Change of Business (the "COB") and related transactions, including providing increased funding to its 70% owned subsidiary Adwell Financial Services Inc ("Adwell") for the expansion of Adwell's micro-finance business, all as principally described in Advent's information circular dated November 30, 2016 (the "Information Circular"). The COB includes the following matters, all of which have been accepted by the Exchange.
Increased funding of Adwell:
In January of 2016 Advent incorporated Adwell for the purpose of commencing a microfinance business. To date, Advent has made an initial investment of $1,375,000 in Adwell ($375,000 by way of capital contribution and $1,000,000 by way of a revolving line of credit). Advent wishes to have the ability to provide increased funding to Adwell for the expansion of Adwell's micro-finance business. Such investment increase has been deemed a COB by the Exchange under Exchange Policies and as such Advent was required to obtain shareholder approval to permit it to invest in and/or lend additional funds to Adwell.
Advent will continue to operate all of its current businesses including: (i) a retail business whereby it sells cellular and wireless products, services and accessories through an independent network of 15 stores in Canada, principally through its wholly-owned subsidiary, Am-Call; and (ii) the commercial leasing of certain investment properties not presently utilized by its cellular and wireless retail stores, but will also now be enabled to increase the amount of investment in and/or funding it provides to Adwell, in such amounts and at such times as may be determined by the Board from time to, in its sole discretion.
The Exchange has been advised that the COB has received shareholder approval and has been completed.
For additional information refer to the Information Circular available under Advent's profile on SEDAR.
The Company is classified as a 'Telecommunications' company.
Capitalization: Unlimited shares with no par value of which
11,935,513 shares are issued and outstanding
Escrow: Nil shares are subject to escrow
Transfer Agent: Computershare Investor Services Inc.
Trading Symbol: AWI
CUSIP Number: 007625S 10 6
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