VERSAPAY CORPORATION ("VPY")
BULLETIN TYPE: Plan of Arrangement-, Remain Halted, Delist
BULLETIN DATE: February 24, 2020
TSX Venture Tier 2 Company
TSX Venture Exchange Inc. (the "Exchange") has accepted for filing documentation in connection with an arrangement agreement between 1233518 B.C. Ltd. ("the Purchaser") and VersaPay Corporation (the "Company") dated December 12, 2019 (the "Arrangement Agreement"). Pursuant to the Arrangement Agreement, the Purchaser agreed to acquire all of the issued and outstanding common shares of the Company by way of a plan of arrangement under the Canada Business Corporations Act (the "Arrangement").
The Exchange has been advised that the requisite approval of the Arrangement by the Company's shareholders was received at a special meeting of shareholders held on February 14, 2020 and that the Ontario Superior Court of Justice (Commercial List) granted a final order with respect to the Arrangement on February 20, 2020. The Arrangement was completed on February 21, 2020. Under the Arrangement, each shareholder of the Company will be entitled to receive cash consideration of C$2.70 for each common share held.
Delisting:
Effective at the close of business on Tuesday, February 25, 2020, the common shares of VersaPay Corporation will be delisted from TSX Venture Exchange.
For further details, please refer to Versa Pay's Management Information Circular dated January 15, 2020 and news releases dated December 13, 2019 and February 21, 2020.
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