Converge Technology Solutions Corp. Announces Exercise of Over-Allotment Option
03 3월 2020 - 11:16PM
Converge Technology Solutions Corp. (“
Converge” or
the “
Company”) (TSXV: CTS) (FSE:0ZB) (OTCQX:CTSDF)
is pleased to announce that, in connection with its previously
announced underwritten public offering (the
“
Offering”) of common shares of the Company, the
underwriters have exercised their over-allotment option to purchase
an additional 592,084 common shares of the Company at a price of
$1.30 per share, for additional gross proceeds to the Company of
$769,709.20. As a result, the total gross proceeds of the Offering
were $8,269,709.50. Raymond James Ltd. led the syndicate of
underwriters for the Offering, which included Paradigm Capital
Inc. and Hampton Securities Limited.
Converge intends to use the net proceeds from
the Offering for acquisitions, working capital and for other
general corporate purposes.
The Offering was conducted in each of the
provinces of Canada by way of a prospectus supplement dated
February 13, 2020 to the Company’s short form base shelf prospectus
dated July 8, 2019 (the “Prospectus Supplement”)
and elsewhere on a private placement basis. The Prospectus
Supplement was filed with the securities regulatory authorities in
each of the provinces of Canada on February 13, 2020 and is
available on SEDAR under the Company’s profile at
www.sedar.com.
About Converge Technology Solutions
Corp.
Converge Technology Solutions Corp. combines
innovation accelerators and foundational infrastructure solutions
to deliver best‐of‐breed solutions and services to customers. The
Company is building a platform of regionally‐focused Hybrid IT
solution providers to enhance their ability to provide multi‐cloud
solutions, blockchain, resiliency, and managed services, enabling
Converge to address the business and IT issues that public and
private‐sector organizations face today.
For further information
contact:
Mary Anne Palangio Chief Financial Officer Converge Technology
Solutions Corp. Email: investors@convergetp.com
Phone: 416‐360‐1495 |
Virtus Advisory Group Shareholder Inquiries Email:
converge@virtusadvisory.com Phone: 416‐644‐5081 |
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Forward-Looking Statements
This press release contains certain
“forward‐looking information” and “forward‐looking statements”
(collectively, “forward‐looking statements”) within the
meaning of applicable Canadian securities legislation regarding
Converge and its business. Any statement that involves
discussions with respect to
predictions, expectations, beliefs, plans,
projections, objectives, assumptions, future events or
performance (often but not always using phrases such as “expects”,
or “does not expect”, “is expected”, “anticipates” or “does
not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”,
“estimates”, “believes” or intends” or variations of such
words and phrases or stating that certain actions, events or
results “may” or “could, “would”, “might” or “will” be taken to
occur or be achieved) are not statements of historical fact and may
be forward‐looking statements. Forward‐looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable, are subject to known and unknown
risks, uncertainties, and other factors which may cause the actual
results and future events to differ materially from those expressed
or implied by such forward‐looking statements. These
forward-looking statements include, but are not limited to, the
anticipated use of proceeds from the Offering and other information
that is not historical information. Except as required by law,
Converge assumes no obligation to update the forward‐looking
statements of beliefs, opinions, projections, or other factors,
should they change. The reader is cautioned not to place undue
reliance on forward‐looking statements.
For a detailed description of the risks and
uncertainties facing the Company and its business and affairs,
readers should refer to the Company’s annual information form,
which is available on SEDAR under the Company’s profile at
www.sedar.com, and the consolidated financial statements of the
Company for the years ended December 31, 2018 and 2017, together
with the corresponding Management’s Discussion and Analysis for
additional risk factors described under “Risks and
Uncertainties”.
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.
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