Immunotec Inc.
TSX VENTURE : IMM

Immunotec Inc.

May 11, 2017 11:25 ET

Immunotec shareholders approve arrangement with 1111267 B.C. Ltd.

VAUDREUIL-DORION, QUEBEC--(Marketwired - May 11, 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 the shareholders of Immunotec have approved at a special meeting of shareholders held today (the "Meeting") the previously announced going-private transaction by way of a plan of arrangement under the Canada Business Corporations Act (the "Arrangement") involving Immunotec, 1111267 B.C. Ltd. and Immuno Holding, S.A. de C.V.

Shareholders representing 98.88% of the votes cast at the Meeting voted in favour of the adoption of the special resolution to approve the Arrangement pursuant to the terms and conditions of an arrangement agreement entered into among the parties on March 22, 2017.

The completion of the Arrangement remains subject to approval by the Superior Court of Québec and the satisfaction or waiver of other customary closing conditions. It is currently anticipated that the Arrangement will be completed in May 2017.

Further details regarding the Arrangement are set out in the Company's management information circular dated April 13, 2017 which is available under the profile of Immunotec at www.sedar.com.

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.

The Company files its continuous disclosure documents on the SEDAR database at www.sedar.com and on the Company's Website at www.immunotec.com. The common shares of the Company are listed on the TSX Venture Exchange under the ticker symbol IMM. 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. These factors include, but are not limited to, those risks associated with obtaining the approval of the Superior Court of Québec. Forward-looking statements also include statements relating to Immunotec's expectations with respect to the timing and outcome of the proposed Arrangement and the ability of the parties to complete the Arrangement. There can be no assurance that the proposed Arrangement will be completed, or that it will be completed on the terms and conditions contemplated in this press release. Readers are cautioned that the foregoing list of factors that may affect future results is not exhaustive. For information identifying further 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 information circular which can be found at www.sedar.com. When relying on forward-looking information to make decisions with respect to Immunotec, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. 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