GEA Technologies Ltd.

February 08, 2017 13:51 ET

GEA Technologies Announces Intelliconn Update and Resignation of Director

CALGARY, ALBERTA--(Marketwired - Feb. 8, 2017) - GEA Technologies Ltd. (NEX:GEA.H) ("GEA" or the "Company") announces that upon completion of its due diligence, the directors of the Company have determined that the previously announced proposed transaction with Intelliconn Communications Solution Inc. is not in the best interest of GEA shareholders and the Company will not be pursuing that transaction. Furthermore, the Company has accepted the resignation of Mr. Jeff Decter as a director. The Company thanks Mr. Decter for his service to the Company.

Forward Looking Statements

This news release contains forward-looking statements relating to the timing and completion of the Proposed Transaction, the future operations of GEA and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Proposed Transaction and the future plans and objectives of GEA, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from GEA's expectations are risks detailed from time to time in the filings made by GEA with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of GEA. As a result, GEA cannot guarantee that the Proposed Transaction will be completed and that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and GEA will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

Trading in the securities of GEA TECHNOLOGIES LTD. should be considered highly speculative.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • GEA Technologies Ltd.
    Robert Thomas, CFO
    (403) 862-7463

    GEA Technologies Ltd.
    Tony Ruggieri, Director
    (403) 703-8395