MONTREAL, Sept. 27, 2018 (GLOBE NEWSWIRE) -- Sigma Industries Inc. ("Sigma") (TSX-V: SSG) is pleased to announce that all the conditions to the closing of the arrangement are now satisfied and, as result, the arrangement will be completed on September 28, 2018, thus, further to the Sigma’s news releases dated July 3 and September 21, 2018, that the common shares of Sigma will be delisted from TSX Venture Exchange effective at the close of business on Friday, September 28, 2018.
The delisting of the Sigma’s common shares results from the completion of an arrangement pursuant to which NanoXplore Inc. (“NanXplore”) acquired all of the issued and outstanding common shares of Sigma for 0.390625 common share of NanoXplore for each share of Sigma. The value of Sigma common shares has been set as $0.75, and the value of NanoXplore common shares has been set at $1.92. Furthermore, the holders of the Sigma’s debentures will receive cash and common shares of NanoXplore for their debentures as follows: (i) for every $1,000 principal amount of the series 1 debentures, $5,000 plus a number of NanoXplore common shares equal to $500; (ii) for each $1,000 principal amount of the series 2 debentures, $9,000 plus a number of NanoXplore common shares equal to $1,000; and (iii) for each $1,000 principal amount of the series 3 debentures, $8,800 plus a number of NanoXplore common shares equal to $1,000. The price of the NanoXplore common shares will also be $1.92.
The arrangement was approved by the Sigma’s shareholders at a special shareholder’s meeting held on September 14, 2018, and was approved by the Superior Court of Quebec on September 21, 2018.
For more information, please consult the Sigma’s Management Information Circular dated August 14, 2018, which is available on SEDAR.
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:
Sigma Industries Inc.
Denis Bertrand
President and CEO
(418) 484-5282
denis.bertrand@sigmaindustries.ca