CALGARY, AB / ACCESSWIRE / August 27, 2019 / Appulse Corporation (the “Corporation” or “Appulse”) (TSXV:APL) announces that is a party to an amalgamation agreement (the “Amalgamation Agreement”) dated August 26, 2019 with Centrifuges Unlimited Inc. (“Centrifuges”), a wholly-owned subsidiary of Appulse, and Rolyn Environmental Service Ltd. (“Rolyn”), pursuant to which Centrifuges and Rolyn have agreed to amalgamate (the “Amalgamation”).
Pursuant to the Amalgamation:
- Appulse will receive all of the shares of the amalgamated company (“Amalco”).
- The shareholders of Rolyn will receive 367,133 common shares of Appulse at a deemed price of $0.25 per share.
- Of the 367,133 shares, 160,800 of those shares are distributable to 1303365 Alberta Ltd. (“1303”). 1303 is an indirect subsidiary of Appulse and will waive its right to receive, or surrender for cancellation, 136,680 common shares, in which case a total of 230,453 common shares of Appulse will be listed for trading.
The Amalgamation is subject to the approval by the shareholders of the amalgamating corporations and acceptance by the TSX Venture Exchange of the listing of the common shares to be issued by Appulse.
Forward-Looking Statements
The information and statements in this news release contain certain forward-looking information. This forward-looking information relates to future events or the Corporation’s future performance. In particular, this document contains forward-looking information and statements regarding the completion of the Amalgamation. All statements other than statements of historical fact may be forward-looking information. This forward-looking information is subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking information. These assumptions include receipt of approval by the shareholders of Rolyn of the Amalgamation. The outcome and timing of the proposed Amalgamation, as well as the Corporation’s actual results, performance or achievement could differ materially from those expressed in, or implied by, such forward-looking information, and accordingly, no assurances can be given that any of the events anticipated by the forward-looking information will transpire or occur or, if any of them do, what benefits that the Corporation will derive from them. The Company’s forward-looking information is expressly qualified in its entirety by this cautionary statement. Except as required by law, the Corporation undertakes no obligation to publicly update or revise any forward-looking information.
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.
For further information contact:
Douglas A. Baird, President
Office: (403) 236-2883
Email: dbaird@centrifuges.net
SOURCE: Appulse Corporation
View source version on accesswire.com:
https://www.accesswire.com/557640/Appulse-Corporation-Announces-Amalgamation-of-Its-Wholly-Owned-Subsidiary
