API Nanotronics Sub, Inc.

June 16, 2016 21:38 ET

API Nanotronics Sub, Inc. Confirms Redemption of Exchangeable Shares

TORONTO, ONTARIO--(Marketwired - June 16, 2016) - API Nanotronics Sub, Inc. (the "Company"), a subsidiary of API Technologies Corp. ("API"), announces that effective April 18, 2016, that its outstanding exchangeable shares ("Exchangeable Shares") were redeemed following API's exercise of its call right to purchase the outstanding Exchangeable Shares in the capital of the Company (the "Redemption Call Right"), pursuant to Article 7 of the articles of incorporation of the Company. A Notice of Change of Automatic Redemption Date and Exercise of Redemption Call Right was mailed to holders of Exchangeable Shares on March 22, 2016, as amended on April 14, 2016. The Company is in the process of applying to the relevant securities commissions in Canada to cease to be a reporting issuer under Canadian securities laws in all applicable Canadian jurisdictions.

Information set forth in this news release may involve forward-looking statements under applicable Canadian securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.

Contact Information

  • Eric F. Seeton
    CFO
    814-474-4300