TORONTO, May 31, 2018 /CNW/ - LOGiQ Asset Management Inc.
("LOGiQ", or the "Company") (TSX:LGQ) today held the
special meeting (the "Meeting") of the holders (the
"Shareholders") of the common shares in the capital of the
Company (the "Shares").
On March 12, 2018, the Company
entered into an arrangement agreement with Grenville Strategic
Royalty Corp. ("Grenville") pursuant to which the Company
has agreed to acquire all of the issued and outstanding common
shares of Grenville ("Grenville Shares") on the basis of
6.25 Shares for each outstanding Grenville
Share (the "Arrangement"). The purpose of the Meeting
was to consider and approve resolutions related to the
Arrangement.
At the Meeting, the Shareholders approved the following
resolutions:
- a special resolution approving the continuance of LOGiQ from
Alberta into British Columbia which is required to complete
the Arrangement;
- an ordinary resolution approving the issuance of LOGiQ Shares
pursuant to the Arrangement;
- a special resolution approving a consolidation of the LOGiQ
Shares on a one for twelve basis immediately following the
completion of the Arrangement (the "Share Consolidation");
and
- an ordinary resolution removing PricewaterhouseCoopers LLP as
auditor of the Company and appointing Goodman & Associates LLP,
Grenville's current auditor, as the auditor of the Company,
immediately following the Arrangement.
Complete details regarding the matters considered at the Meeting
were outlined in the joint management information circular of the
Company and Grenville dated May 2,
2018 (the "Circular") mailed to shareholders of
record on April 30, 2018. The
Circular is also available at www.sedar.com.
Completion of the Arrangement, which is expected to occur on or
about June 7, 2018, is subject to a
number of conditions precedent, including approval from the Supreme
Court of British Columbia and
satisfaction of other customary closing conditions.
About LOGiQ:
LOGiQ (logiqasset.com) has an institutional global advisory
sales platform (the "Global Partners platform") providing pension
funds, charities and endowment clients with access to leading
institutional money managers from around the world. LOGiQ had
assets under management or advisement and institutional advisory
sales-related fee earning arrangements that are not managed or
advised, totaling $3.4 billion as at
March 31, 2018.
SOURCE LOGiQ Asset Management Inc.