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.
About Ergoresearch
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