Vecima Announces Acquisition of Common Shares of AirIQ
October 25 2017 - 8:00AM
Vecima Networks Inc. (“Vecima”) (TSX:VCM), an experienced designer
and manufacturer of innovative technology in the broadband
equipment market, today announced that it has entered into a
definitive agreement with Donald Gibbs and 2204671 Ontario Inc.
(the “Vendors”) to acquire an aggregate of 5,582,000 common shares
(“AirIQ Shares”) of AirIQ Inc. (“AirIQ”) (TSX-V:IQ).
As consideration for the AirIQ Shares, Vecima
issued an aggregate of 96,443 common shares of Vecima, at a deemed
value of $948,940, to the Vendors. The deemed consideration per
AirIQ Share is $0.17. Vecima previously held 570,500 AirIQ Shares,
representing 2.0% of the issued and outstanding shares of AirIQ. It
acquired 5,582,000 AirIQ Shares, representing 19.3% of the issued
and outstanding shares of AirIQ, and following the transaction will
hold 6,152,500 AirIQ Shares, representing 21.3% of the issued and
outstanding shares of AirIQ.
The AirIQ Shares were acquired for investment
purposes. Depending on market conditions and other factors, Vecima
may from time to time acquire additional securities of AirIQ or
dispose of securities of AirIQ in the open market, by private
agreement or otherwise.
To obtain a copy of the early warning report
filed under applicable Canadian securities laws in connection with
the acquisition of AirIQ shares above, please see AirIQ’s profile
on the SEDAR website www.sedar.com.
About Vecima Networks
Vecima Networks Inc. (TSX:VCM) is a globally
recognized leader in creating breakthrough technology solutions
that empower network service providers to connect people and
enterprises to information and entertainment worldwide. Vecima
products for the cable industry allow service providers a
cost-effective Last Mile Solution® for both video and broadband
access, especially in the demanding business services market
segment. Vecima also provides fleet managers the key information
and analytics they require to optimally manage their business under
the Contigo, Nero Global Tracking, and FleetLynx brands. For more
information, please visit our website at www.vecima.com.
Vecima NetworksInvestor
Relations - 250-881-1982invest@vecima.com
AirIQ (TSXV:IQ)
Historical Stock Chart
From Oct 2024 to Nov 2024
AirIQ (TSXV:IQ)
Historical Stock Chart
From Nov 2023 to Nov 2024