Woden Venture Capital Corporation

Woden Venture Capital Corporation

December 22, 2015 14:07 ET

Renunciation by Woden to the Proposed Qualifying Transaction and Receipt of an Indemnification

MONTRÉAL, QUÉBEC--(Marketwired - Dec. 22, 2015) - Woden Venture Capital Corporation (NEX:WOD.H) ("Woden") announces that all shareholders of Indicina Inc. (also known as Happy Logic) have agreed to a competing offer for the sell of their shares to large Institution Fund. To their view, this offer comprised terms and conditions that they could not refuse.

Following that, the management of Woden, the Institutional Fund and Happy Logic have agreed on a mutual basis to an indemnification payable to Woden in order to terminate the proposed Qualfying Transaction that Woden anticipated to conclude.

Woden confirms that it resumes right now its process of identifying and evaluating businesses and assets with a view to completing a transaction which will meet the initial listing requirements of the TSX Venture Exchange.

Neither the TSX Venture Exchange/NEX nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange/NEX) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • For Woden Venture Capital Corporation:
    Andre Bergeron, President and Chief Executive Officer
    (450) 681-7744