CALGARY, ALBERTA--(Marketwired - Feb. 20, 2014) -
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Zedi Inc. ("Zedi" or the "Corporation") (TSX VENTURE:ZED) is pleased to announce that Zedi and 1779958 Alberta Ltd. ("AcquisitionCo") have completed the business combination of Zedi and AcquisitionCo pursuant to a plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement"). Under the terms of the Arrangement, AcquisitionCo has acquired all of the issued and outstanding common shares (the "Zedi Shares") of Zedi at a price of $1.05 in cash for each Zedi Share. AcquisitionCo has also amalgamated with Zedi under the Arrangement and will continue to carry on business under the name "Zedi Inc.".
With the completion of the Arrangement, the Zedi Shares are expected to be delisted from the TSX Venture Exchange following the close of trading on February 21, 2014.
Registered holders of Zedi Shares (the "Zedi Shareholders") are encouraged to complete, execute and submit the Letter of Transmittal included in the accompanying materials sent to Zedi Shareholders for the special meeting of Zedi Shareholders held on February 18, 2014 as soon as possible in order to receive the consideration to which they are entitled under the Arrangement. Any questions and requests for assistance in respect of the Letter of Transmittal may be directed to Valiant Trust Company at its telephone numbers and locations set out in the Letter of Transmittal.
This press release contains forward-looking statements within the meaning of Canadian securities laws. These forward-looking statements contain statements of intent, belief or current expectations of Zedi. 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", "estimate", "predict" or similar words suggesting future outcomes or language suggesting an outlook.
The forward-looking statements included in this press release, including statements concerning the delisting of the Zedi Shares, are not guarantees of future results and involve risks and uncertainties that may cause actual results to differ materially from the potential results discussed in the forward-looking statements.
The forward-looking statements in this press release are made as of the date it was issued and Zedi does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks that outcomes implied by forward-looking statements will not be achieved. Zedi cautions readers not to place undue reliance on these statements.
Zedi Inc. (TSX VENTURE:ZED) helps the world's oil and gas producers be more productive, more profitable, and more sustainable through technology backed by expert consultation and services. Our 60 years of continuous operations in North America and recognition as one of the industry's best workplaces, sets us apart in the production operations landscape. With our unique combination of award-winning automation, data management, and field and professional services, we offer solutions to our customers' challenges and help them realize their production potential.
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.