Mincom Capital Inc. Update on Expected Closing of Reverse Takeover Transaction
OTTAWA, Dec. 06, 2017 (GLOBE NEWSWIRE) -- Mincom Capital Inc. (TSX-VENTURE:MOI) (“Mincom” or the “Corporation”) is pleased to announce that it has received consent of the TSX Venture Exchange (the “Exchange”) to extend the deadline for the closing of the previously announced reverse takeover transaction (the “RTO”) set out in Exchange’s conditional acceptance letter of August 24, 2017.
On closing of the RTO, Mincom will acquire all the shares of Braille Holdings Inc. (“Braille”) held by Grafoid Inc., representing 75% of the issued and outstanding shares of Braille.
Mincom received the required shareholder approval for the RTO at the Corporation’s annual and special meeting held on October 5, 2017.
Mincom is now working to satisfy all conditions set out in the conditional acceptance letter and anticipates closing the Transaction sometime in February 2018. At that time, and subject to final Exchange acceptance, trading would resume in Mincom’s shares.
Full details of the RTO were included in an information circular prepared in accordance with the requirements of the Exchange in connection with the Transaction and is available at www.sedar.com.
About Mincom Capital Inc.
Mincom shares are traded on the TSX Venture Exchange. Further information about Mincom can be found in its filings with Canadian securities regulators, which filings are available at www.sedar.com.
About Braille Battery
Braille Battery Inc. is a Sarasota, Florida-based battery manufacturing and energy storage solutions company
Disclaimer & Forward Looking Statement
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information included in this press release is forward-looking and may involve risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors that might cause a difference include, but are not limited to, competitive developments, risks associated with Mincom's growth, the state of the financial markets, regulatory risks and other factors. Forward-looking statements included or incorporated by reference in this press release include statements with respect to proposed terms of the private placement transaction. There can be no assurance that any statements of forward-looking information contained in this release will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Unless otherwise required by applicable securities laws, Mincom disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on any statements of forward-looking information that speak only as of the date of this release. More detailed information about potential factors that could affect Mincom's financial and business results is included in public documents Mincom files from time to time with Canadian securities regulatory authorities and which are available at www.sedar.com.
Mincom Capital Inc.
President and Chief Executive Officer