Immunotec Inc.
TSX VENTURE : IMM

Immunotec Inc.

May 18, 2017 09:51 ET

Immunotec Announces Completion of Arrangement

VAUDREUIL-DORION, QUEBEC--(Marketwired - May 18, 2017) - Immunotec Inc. (TSX VENTURE:IMM), a direct-to-consumer company and a leader in the nutritional industry (the "Company" or "Immunotec"), today announced that it has completed its previously announced going-private transaction by way of a plan of arrangement under the Canada Business Corporations Act (the "Arrangement") pursuant to which 1111267 B.C. Ltd., a subsidiary of Immuno Holding, S.A. de C.V (together, "Immuno Holding"), acquired all of the issued and outstanding common shares of the Company ("Shares") for a cash consideration of $0.485 per Share.

"As a new member of the Immunotec family, I look forward to working collaboratively with Immunotec's management and employees in Quebec, the U.S. and Mexico, as well as with its network of over 100,000 independent consultants, to fuel Immunotec's growth", said Mauricio Domenzain, leader of Immuno Holding. "Together, we will carry on the vision shared by the Company's founders and Dr. Gustavo Bounous to position Immunocal® as a global nutritional choice and to continue to improve the lives of many more with this outstanding product."

Charlie Orr, CEO of Immunotec, added: "As Immunotec celebrated last year its 20th year of commercialization and 40 years of research, this transaction represents an exciting new chapter in the history of Immunotec and in its continued path of growth and success."

In order to receive the consideration for their Shares payable pursuant to the Arrangement, registered shareholders of Immunotec must complete and sign the Letter of Transmittal sent to them with the management information circular for the special meeting of Immunotec shareholders held on May 11, 2017 and deliver such Letter of Transmittal to Computershare Trust Company of Canada (the "Depositary") together with certificates representing their Shares and such additional documents and instruments as the Depositary may reasonably require. A copy of the Letter of Transmittal may also be obtained by contacting the Depositary and is available on SEDAR at www.sedar.com under Immunotec's profile. Any questions regarding the payment of the consideration, including any request for another copy of the Letter of Transmittal, should be directed to the Depositary by telephone at 1-800-564-6253 or by e-mail at corporateactions@computershare.com.

Shareholders whose Shares are registered in the name of a broker, investment dealer, bank, trust company, trustee or any other similar intermediary entity (together, an "Intermediary"), custodian or nominee, should contact that Intermediary, custodian or nominee for assistance in depositing their Shares and should follow the instructions of such Intermediary, custodian or nominee in order to deposit their Shares.

As a result of the completion of the Arrangement, transactions in the Shares will be halted at the opening of the market on May 18, 2017, and it is expected that the Shares will be delisted from the TSX Venture Exchange shortly thereafter. The Company has applied to the relevant securities regulatory authorities in Canada to cease to be a reporting issuer for the purposes of securities legislation.

About Immunotec Inc.

Immunotec is a Canadian-based company that develops, manufactures, markets and sells research-driven nutritional products through direct-to-consumer sales channels in Canada, the U.S., Mexico, the Dominican Republic, the United Kingdom and Ireland. The Company offers an extensive line of nutritional, skin care and wellness products targeting health, weight management, energy and physical performance. Please visit us at www.immunotec.com for additional information.

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.

Forward Looking Statements

This press release contains statements that constitute "forward-looking information" or "forward-looking statements" (collectively "forward-looking information") within the meaning of applicable securities legislation. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "believe", "expect", "plan", "intend", "forecast", "target", "project", "may", "will", "should", "could" or similar words suggesting future outcomes or language suggesting an outlook.

Forward-looking information contained in this press release is based on the current beliefs of the Company as well as assumptions made by, and information currently available to, the Company. Although the Company considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect.

By its very nature, the forward-looking information included in this press release involves inherent risks and uncertainties, both general and specific, and risks that predictions, forecasts, projections and other forward-looking information will not be achieved. Readers are cautioned not to place undue reliance on this forward-looking information as a number of important factors could cause the actual results to differ materially from those expressed in such forward-looking information. For information identifying known risks and uncertainties and other important factors that could cause actual results to differ materially from those anticipated in the forward-looking information, please refer to the heading "Risks and Uncertainties" in Immunotec's most recent Management Proxy Circular which can be found at www.sedar.com and to the heading "Risks and Uncertainties" in Immunotec's most recent Management's Discussion and Analysis which can also be found at www.sedar.com. Furthermore, the forward-looking information contained in this press release is made as of the date of this press release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. The forward-looking information contained in this press release is expressly qualified by this cautionary statement.

Contact Information

  • Patrick Montpetit, CPA
    CA, CF Vice-President and Chief Financial Officer
    (450) 510-4527