CALGARY, ALBERTA--(Marketwired - Oct. 31, 2013) - Zedi Inc. ("Zedi" or the "Corporation") (TSX VENTURE:ZED) announces that its board of directors is conducting a review of strategic alternatives available to the Corporation with a view to enhancing shareholder value. The board of directors has established a committee of independent directors (the "Independent Committee") to work with management and the Corporation's external advisors to supervise the review of strategic alternatives. The Independent Committee has engaged Simmons & Company International to provide financial advisory services in connection with this review. Strategic alternatives may include, but are not limited to, a corporate sale, merger or other business combination, a sale of a material portion of Zedi's assets, a joint venture with an interested party, a major financing or any other combination that will result in unlocking additional value for shareholders.
The announcement made by the Corporation on October 24th, 2013 regarding the discontinuance of Telus CDMA EVDO service may cause delays in the strategic alternatives review process and may impact the outcome.
Zedi does not intend to disclose developments with respect to the strategic alternatives review process until the board of directors has approved a definitive transaction or strategic option, unless otherwise required by law. Zedi cautions that there are no guarantees that the strategic alternatives review will result in a transaction or, if a transaction is undertaken, as to its terms or timing.
Statements contained in this news release concerning the review of strategic alternatives for Zedi constitute forward-looking statements. In making the forward-looking statements, Zedi has made assumptions regarding, among other things, its ability to identify, negotiate and consummate an acceptable transaction. There is risk that Zedi will not successfully identify, negotiate and/or consummate a suitable transaction. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
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 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.