Glacier and GVIC Complete Plan of Arrangement
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VANCOUVER, British Columbia, March 31, 2021 (Globe NEWSWIRE) — Glacier Media Inc. (TSX: GVC) (“Glacier”) and GVIC Communications Corp. (TSX: GCT) (“GVIC”) now jointly declared that the beforehand announced system of arrangement (the “Arrangement”) pursuant to which Glacier will acquire all of the Class B voting common shares (“GVIC B Shares”) and Class C non-voting shares (“GVIC C Shares”) of GVIC not at this time held by Glacier and its subsidiary, or by a wholly-owned constrained partnership of GVIC will be efficient at 11:59 PM right now (the “Effective Time”). As of the Effective Time, shareholders of GVIC are entitled to get, for each GVIC Share held, .8 of a typical share of Glacier (“Glacier Share”).
The Arrangement was accepted by shareholders of GVIC at a particular meeting of shareholders held on March 17, 2021 and by the Supreme Court docket of British Columbia on March 22, 2021.
It is expected that the GVIC B Shares and the GVIC C Shares will just about every be delisted from the Toronto Inventory Trade (“TSX”) on or about April 6, 2021. The Glacier Shares will continue to trade on the TSX underneath the symbol “GVC”.
Facts FOR GVIC SHAREHOLDERS
Registered holders of GVIC Shares are reminded that they should effectively finish, signal and return the letter of transmittal to Computershare Trader Services Inc., as depositary, in get to acquire the Glacier Shares they are entitled to in relationship with the Arrangement. Holders of GVIC Shares who keep their shares by way of a broker, financial investment supplier or other middleman really should diligently adhere to the guidelines furnished by these broker, expense vendor or other middleman in get to get the Glacier Shares they are entitled to in connection with the Arrangement. GVIC shareholders who have issues or call for guidance with distributing their GVIC B Shares or GVIC C Shares may well direct their concerns to Computershare Investor Products and services Inc., by phone at 1-800-564-6253 (toll free in Canada and the United States) or 514-982-7555 (worldwide direct dial) or by electronic mail at [email protected].
The Toronto Stock Exchange has neither reviewed nor accepts obligation for the adequacy or accuracy of this information launch.
Ahead Wanting STATEMENTS
This information release is made up of ahead-searching statements that relate to, among the other items, GVIC and Glacier’s targets, objectives, methods, intentions, designs, beliefs, anticipations and estimates. These forward-on the lookout statements contain, between other items, statements relating to GVIC and Glacier’s expectations with regards to the time of the Effective Time, the delisting of the GVIC Shares from the TSX, reduction of expenses, the outcome of marketing efforts, any enhance in market place demand from customers and the ability to solve intercompany loans. These ahead-on the lookout statements are primarily based on sure assumptions, like the implementation of price tag reductions and marketing and advertising efforts, resolution of intercompany financial loans, the time of the Successful Time and the delisting of the GVIC Shares from the TSX, which are topic to dangers, uncertainties and other factors which may well trigger benefits, functionality or achievements of GVIC and Glacier to be materially various from any long term benefits, performance or achievements expressed or implied by this sort of ahead-searching statements, and undue reliance ought to not be placed on this sort of statements.
Crucial elements that could bring about real effects to differ materially from these expectations incorporate failure to employ or attain supposed benefits from price tag reduction and internet marketing attempts, to solve intercompany financial loans, failure to obtain the Helpful Time, failure to delist the GVIC Shares from the TSX, general economic, organization and political disorders, which include improvements in the money marketplaces, improvements in relevant legal guidelines, failure to employ or obtain the meant success from price tag reduction and marketing and advertising initiatives, the failure to resolve intercompany financial loans and the other possibility things outlined in just about every of GVIC and Glacier’s Yearly Info Forms less than the heading “Risk Factors” and in their respective MD&A less than the heading “Business Environment and Risks”, numerous of which are out of GVIC and Glacier’s command. These other danger aspects include, but are not confined to, the impact of Coronavirus, that long run dollars move from operations and the availability underneath present banking preparations are considered to be enough to support economical liabilities and that GVIC expects to be prosperous in its objection with CRA, the skill of Glacier and GVIC to provide advertising and subscriptions related to its publications, foreign exchange price fluctuations, the seasonal and cyclical nature of the agricultural and strength sectors, discontinuation of governing administration grants, common current market disorders in both of those Canada and the United States, adjustments in the rates of acquired provides like newsprint, the results of opposition in Glacier’s and GVIC’s marketplaces, dependence on key staff, integration of freshly acquired corporations, technological modifications, tax threat, funding threat, debt provider hazard and cybersecurity possibility.
The ahead-seeking statements made in this information launch relate only to occasions or information and facts as of the day on which the statements are designed. Apart from as demanded by regulation, neither GVIC nor Glacier undertakes any obligation to update or revise publicly any forward-seeking statements, whether or not as a result of new details, potential functions or or else, after the day on which the statements are made or to mirror the incidence of unanticipated occasions.
ABOUT GLACIER
Glacier Media Inc. is an data & marketing answers business pursuing advancement in sectors where by the provision of essential information and facts and connected providers presents superior customer utility and benefit. Glacier’s products and solutions and expert services are targeted in two places: 1) info, analytics and intelligence and 2) material & marketing and advertising options.
ABOUT GVIC
GVIC Communications Corp. is an information & advertising remedies enterprise pursuing growth in sectors exactly where the provision of crucial facts and related services supplies significant customer utility and price. GVIC’s products and solutions and products and services are concentrated in two places: 1) info, analytics and intelligence and 2) written content & marketing remedies.
FOR Further more Information and facts Make sure you Make contact with:
Mr. Orest Smysnuik, Chief Economical Officer, Glacier Media Inc. 604-708-3264. Mr. Jon Kennedy, President & Chief Government Officer, GVIC Communications Corp. 604-708-3276.
Supply: GVIC Communications Corp.
