Tickers: XTSX:NBL, XTSX:NBL.P
Tags: Technology
TORONTO, ONTARIO / TheNewswire / October 17, 2017 (TSX-V: NBL.P) - Nobelium Tech Corp. (the "Corporation") announces that it has filed an amendment (the "Amendment") to its notice of meeting dated September 28, 2017 (the "Notice of Meeting") and its management information circular dated September 28, 2017 (the "Information Circular") in respect of the special meeting of shareholders originally scheduled to be held on October 30, 2017 (the "Meeting").
The Notice of Meeting and the Information Circular indicated that at the Meeting shareholders of the Corporation ("Shareholders") would be asked to consider, and if deemed advisable, to approve with or without variation, a special resolution approving a consolidation of the outstanding common shares of the Corporation ("Common Shares") on the basis of one post-consolidation Common Share for up to every ten pre-consolidation Common Shares (the "Original Consolidation Ratio"). Such consolidation is being proposed in connection with the Corporation's proposed transaction (the "Transaction") with NextBlock Global Limited ("NextBlock" and together with the Corporation, the "Parties"). The Corporation believes that the proposed consolidation ratio originally put forth in the Notice of Meeting and Information Circular should be amended in order to better align with the anticipated valuation metrics pursuant to the intended Transaction as referred to in the Corporation's news release dated August 24, 2017. It is therefore proposed that the Common Shares of the Corporation be consolidated on the basis of one post-consolidation Common Share for up to every thirty pre-consolidation Common Shares (the "New Consolidation Ratio"). Accordingly, all references in the Notice of Meeting and the Information Circular to the Original Consolidation Ratio are hereby amended to refer to the New Consolidation Ratio.
In light of the above amendment to the Original Consolidation Ratio, management of the Corporation has decided to instead hold the Meeting on Tuesday November 14, 2017 at 11:00 a.m. (AST). The Meeting location and the Record Date (as such term is defined in the Information Circular) remain unchanged.
An amended form of proxy referring to the new Meeting date and the New Consolidation Ratio have been filed on SEDAR concurrently with the filing of this Amendment, and can also be obtained from the Corporation upon request. Shareholders who have already submitted their proxy for the Meeting need not take further action, as the original form of proxy confers discretionary authority with respect to amendments or variations to the matters identified in the Notice of Meeting or other matters which may properly come before the Meeting or any adjournment or postponement thereof. Accordingly, the persons named in the original form of proxy which accompanied the Information Circular, and in the amended form of proxy filed in connection with this Amendment, intend to vote FOR the consolidation of the Common Shares at the New Consolidation Ratio unless the Shareholder has specified in the form of proxy that the Common Shares represented by such form of proxy are to be voted against such resolution.
The Amendment has been filed on SEDAR at www.sedar.com. Copies of the Amendment will also be mailed to Shareholder and will be available at the Meeting or upon request.
Nobelium is a Capital Pool Company trading on the TSX Venture Exchange. It is a platform that seeks to own and acquire high quality profitable software as a service businesses, IT services and provisioning businesses with recurring revenue models solving specific vertical/industry needs.
For further information: Erroll Treslan, President T: 519 374 1834.
CAUTIONARY STATEMENT:
Neither the 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 press release.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in the Corporation's filings with the Canadian securities regulators, which filings are available at www.sedar.com.
(Not for distribution to US wire services or for dissemination in the United States of America)
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