Ergoresearch Announces Closing of Going Private Transaction
Published February 28 2018 in What's New
LAVAL, QC, Feb. 23, 2018 /CNW Telbec/ – Ergoresearch Ltd. (“ERG” or the “Corporation”) (TSXV: ERG), a Quebec-based company in the design and manufacturing of cutting edge technology for intelligent orthotics, medical devices and software in the orthopedic industry, is pleased to announce that the Corporation has closed its previously announced going private transaction (the “Transaction”) by amalgamating with a company controlled by Walter Capital Partners Inc. in partnership with Sylvain Boucher and Danielle Boucher (together, the “Management Shareholders”)
Pursuant to the Transaction, which was effected today under the Canada Business Corporations Act, shareholders (other than the Management Shareholders) received, for each common share of ERG held prior to the Transaction, one redeemable preferred share of the new corporation resulting from the Transaction and immediately after their issuance, each redeemable preferred share was redeemed for $0.30 in cash.
An application has been made to delist the common shares of the Corporation from the TSX Venture Exchange. It is expected that the common shares will be delisted on or about February 27, 2018 and an application has been made to cease to be a reporting issuer under applicable provincial securities laws.
Ergoresearch is a Canadian company that designs and manufactures cutting edge technologies for the orthopedic industry. The Corporation is a trend-setter in creating custom orthotics and speciality orthotics for the orthopedics market and holds a portfolio of patents in the orthopedics field and in human bionics. The mission of our banner “Équilibre orthèses et biomécanique” is to keep people active and moving. “ÉQUILIBRE“, driven by its proprietary technologies and the expertise of its professionals, offers a range of products, treatments and services in order to relieve pain, restore motor function and optimize performance.
About Walter Capital Partners
Walter Capital Partners Inc. (“Walter Capital”) is a private equity firm and part of Walter Financial and the Walter Group. Walter Capital invests capital and know-how in established small and medium-sized businesses to help accelerate their growth. Drawing on the entrepreneurial values of the Walter Group and the business leadership expertise of its managing partners, Walter Capital offers solutions that are above and beyond purely financial transactions. Headquartered in Montreal, Walter Capital provides a solid international network.
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.
SOURCE Ergoresearch Ltd
For further information: Sylvain Boucher, President and CEO, Ergoresearch Ltd., Tel.: 450-973-6700, ext. 213, sboucher[*]ergoresearch.com