HTN Inc. Enters into Agreement to Acquire APT Software & Double Door Communications
07 2월 2014 - 11:00PM
Marketwired
HTN Inc. Enters into Agreement to Acquire APT Software & Double
Door Communications
TORONTO, ONTARIO--(Marketwired - Feb 7, 2014) - HTN Inc.
(TSX-VENTURE:HET.H) ("HTN" or the "Company") is pleased to announce
that the Company has agreed to acquire two privately held companies
(the "Target"): APT Software Canada Inc. ("APT") and Double Door
Communications Inc. ("Double Door"), both of which are collectively
owned as to 100% by Manish Dixit and Malay Dixit (the
"Shareholders").
The purchase of the Target (the "Transaction") will form the
basis for HTN's reactivation from the NEX Board of the TSX Venture
Exchange (the "Exchange") to Tier 2 on the Exchange, subject to HTN
meeting all of the Tier 2 Initial Listing Requirements for
Technology Issuers following completion of the Transaction.
Completion of the Transaction is subject to a number of conditions,
including, without limitation, execution of definitive agreements
and other transaction documents, completion of due diligence, and
receipt of all regulatory approvals, including approval of the
Exchange.
Transaction Terms:
HTN and the Target have executed a letter of intent which
outlines the proposed terms by which the Company will acquire the
Target. As consideration for the Target, the Company has agreed to
issue 10,000,000 common shares of HTN to the Shareholders on
closing of the Transaction. In addition, 5,000,000 common shares of
the Company (the "Performance Shares") will be issued and deposited
into a performance escrow account, with the release terms of the
performance escrow to be settled under the definitive
agreement.
Description of the Target:
APT was incorporated under the Canada Business
Corporations Act in June 2010 and since the date of
incorporation carries on the IT business of owning, operating and
marketing software development services and developing and owning
proprietary software. Double Door was incorporated under the
Canada Business Corporations Act in November 2008 and
since the date of incorporation carries on the business of
providing outsourced digital media services and staffing.
HTN will be focused on the delivery of mobile applications and
technology as well as enterprise onshore/offshore software
development.
A comprehensive press release will be issued by the Company once
the other details of the Transaction have been confirmed and a
definitive agreement has been executed.
Neither 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.
Completion of the Transaction is subject to a number of
conditions including Exchange acceptance. There can be no assurance
that the Transaction will be completed as proposed or at all.
Investors are cautioned that any information released or received
with respect to the Transaction may not be accurate or complete and
should not be relied upon. Trading in the securities of HTN Inc.
should be considered highly speculative.
The TSX Venture Exchange has in no way passed upon the
merits of the proposed Transaction and has neither approved nor
disapproved the contents of this press release.
Forward Looking Statements
Certain statements herein may contain forward-looking
statements and forward-looking information within the meaning of
applicable securities laws. Forward-looking statements or
information appear in a number of places and can be identified by
the use of words such as "plans", "expects" or "does not expect",
"is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate" or "believes" or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved. Forward-looking statements
and information include statements regarding the Transaction,
expected revenues of the Target and mobile strategy of the Target.
Such forward-looking statements and information are subject to
risks, uncertainties and other factors which may cause the
Company's actual results, performance or achievements, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statement or information. There can be no assurance
that a forward-looking statement or information referenced herein
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements
or information. Also, many of the factors are beyond the control of
the Company. We undertake no obligation to reissue or update any
forward-looking statements or information except as required by
law. All forward-looking statements and information herein are
qualified by this cautionary statement.
HTN Inc.Michael KraftPresident &
CEO416.927.7003416.927.1222mkraft@buckinghamgrp.com
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