Globalive Technology Announces Results of Shareholder Meeting on January 25, 2021
January 25 2021 - 5:49PM
Globalive Technology (TSX-V: LIVE) (the
“
Company”), a technology firm based in Toronto,
Ontario, held a special meeting of its shareholders (the
“
Meeting”) on January 25, 2021 at 10:00 a.m.
(Toronto time).
The Company is pleased to announce that each of
the resolutions proposed in the management information circular for
the Meeting (the “Circular”) were approved by the
shareholders of the Company, including:
(i) |
|
Authorization to implement a plan of arrangement to complete a
reverse takeover transaction with Yooma Corp. on substantially the
terms described in the Circular (the “RTO
Transaction”). |
|
|
|
(ii) |
|
Authorization to apply to have the Company de-listed from the
TSX Venture Exchange in connection with the completion of the RTO
Transaction. |
|
|
|
(iii) |
|
Authorization for a new long term incentive plan, that will be
the go-forward incentive plan for the resulting issuer of the RTO
Transaction. |
Additional details about the Meeting, the
resolutions approved by the shareholders and other matters
pertaining to the RTO Transaction can be found in the Circular, and
in supplementary press releases issued by the Company on January
18, 2021 and January 20, 2021, all of which are available on the
Company’s SEDAR page at www.sedar.com.
The Company notes that the business of the
Meeting remains subject to final approval by the TSX Venture
Exchange and the Canadian Securities Exchange.
ABOUT GLOBALIVE TECHNOLOGY
Globalive Technology is a next generation
software company and venture partner that is developing and
investing in innovative solutions to disrupt traditional
industries. The company forms partnerships with leading high growth
companies to develop and commercialize software solutions using
optimal technology stacks. It is controlled by Globalive Capital
Inc., which has founded and co-founded 12 businesses over the past
20 years with six successful exits ranging from $10M to $1.3B USD,
has made over 100 venture investments and has over 45 technology
companies in its portfolio. For more information, visit
www.globalivetech.com.
CAUTION REGARDING FORWARD-LOOKING
INFORMATION
This news release contains forward-looking
statements relating to the Company and its proposed reverse
takeover transaction with Yooma Corp. Such forward-looking
statements are identified by terms such as “to apply”, “will be”,
“remain subject to” and similar expressions. All statements, other
than statements of historical fact included in this release,
including those noted above, are forward-looking statements that
involve risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from the Company’s expectations include the
Company being unable to obtain final TSX Venture Exchange or
Canadian Securities Exchange approvals for any items of business
proposed at the Meeting, the Company or its reverse takeover
transaction partner determining not to proceed with the transaction
or being unable to satisfy the closing conditions for such
transaction, the Company or its transaction partner proposing
amendments to the long term incentive plan or determining not to
proceed with the implementation of the long term incentive plan,
and other risks as set out in the Company’s management information
circular for the Meeting dated December 21, 2020 and its
supplementary press releases dated January 18, 2021 and January 20,
2021, all of which are available on its SEDAR page at
www.sedar.com.
The reader is cautioned that assumptions used in
the preparation of any forward-looking information may prove to be
incorrect. Events or circumstances may cause actual results to
differ materially from those predicted as a result of numerous
known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of the Company. The Company cannot
guarantee that any of the forward-looking statements contained in
this press release will occur as disclosed herein or at all. The
reader is cautioned not to place undue reliance on any
forward-looking information.
Such information, although considered reasonable
by management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. The
forward-looking statements contained in this news release are made
as of the date of this news release and the Company will only
update or revise publicly the included forward-looking statements
as expressly required by Canadian securities law.
FOR FURTHER INFORMATION, PLEASE CONTACT:
For media inquiries:Rob MoyseyCommunications
Manager, GlobaliveMedia@globalivetech.com
For investor inquiries:Simon LockieChief
Corporate
Officer1-647-977-2727InvestorRelations@globalivetech.com
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.
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