MONTREAL, Aug. 23, 2018 (GLOBE NEWSWIRE) -- NanoXplore Inc. ("NanoXplore") (TSX-V: GRA) and Sigma Industries Inc. ("Sigma") (TSX-V: SSG) are pleased to announce that subsequently to receiving an interim order (the “Interim Order”) from the Superior Court of Québec in connection with the proposed arrangement (the “Arrangement”) and debenture exchange (the “Debenture Exchange”) announced on July 3, 2018, the information circular for the special meeting of Sigma’s shareholders was mailed on August 17, 2018 to the registered shareholders of Sigma and on August 22, 2018 to the non-registered shareholders of Sigma as requested by the Interim Order.
The Interim Order, among other things, authorizes Sigma to call and hold a special meeting of shareholders (the “Meeting”) to approve the Arrangement and the Debenture Exchange. The Meeting will be held at 10:00 a.m. (Eastern Daylight Time) on September 14, 2018 at Stein Monast Building located at 70, Dalhousie Street, Suite 300, Québec, QC, G1K 4B2.
At the Meeting, Sigma shareholders will be asked to pass a resolution approving the acquisition of the convertible debentures of Sigma by NanoXplore (the “Debenture Resolution”). To be effective, the Debenture Resolution must be passed by more than 50% of the votes cast on the Debenture Resolution by disinterested Sigma shareholders present in person or represented by proxy at the Meeting.
At the Meeting, if the Debenture Resolution is approved by the disinterested shareholders of Sigma, Sigma shareholders will also be asked to pass a special resolution approving the Arrangement (the “Arrangement Resolution”). To be effective, the Arrangement Resolution must be passed at the Meeting by (i) at least 66 2/3% of the votes cast on the Arrangement Resolution by Sigma shareholders present in person or by proxy at the Meeting, and (ii) by more than 50% of the votes cast on the Arrangement Resolution but excluding the votes attached to Sigma shares held by the persons described in paragraphs (a) to (d) of section 8.1 (2) of Regulation 61-101.
In connection with the Meeting, Sigma has mailed the circular, together with the letter of transmittal, the related proxy materials to its shareholders and a notice of presentation of motion for final order by the Superior Court of Québec along with its answer form. Such documents are also available on SEDAR under profile of Sigma at www.sedar.com.
About NanoXplore Inc.
NanoXplore is a graphene company, a manufacturer and supplier of high-volume graphene powder for use in industrial markets, as well as standard and custom graphene enhanced plastic and composite products. NanoXplore has manufacturing facilities in Montreal, Canada and Vallorbe, Switzerland.
About Sigma Industries Inc.
Sigma is a manufacturing company specializing in the manufacture of composite products, has two operating subsidiaries and employs 275 people. It operates in the markets for heavy trucks, buses, public transit, machinery and wind energy. Sigma sells its products to original equipment manufacturers and distributors in the United States, Canada and Europe.
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 more information, please contact:
NanoXplore Inc.
Soroush Nazarpour
President and CEO
(514) 935-1377
info@nanoxplore.ca
Sigma Industries Inc.
Denis Bertrand
President and CEO
(418) 484-5282
denis.bertrand@sigmaindustries.ca