21:39:51 EDT Wed 17 Apr 2024
Enter Symbol
or Name
USA
CA



ChitrChatr Communications Inc
Symbol CHA
Shares Issued 31,450,000
Close 2014-11-21 C$ 1.77
Market Cap C$ 55,666,500
Recent Sedar Documents

ChitrChatr, TalkTran cancel old deal, enter new one

2014-11-24 07:13 ET - News Release

Mr. Rahim Mohamed reports

CHITRCHATR ENTERS INTO A NEW PLAN OF ARRANGEMENT WITH TALKTRAN COMMUNICATIONS CORP. AND TALKTRAN CAPITAL CORP.

Further to its previous news release dated Feb. 6, 2014, announcing a proposed plan of arrangement with TalkTran Communications Corp. (the issuer), ChitrChatr Communications Inc. (pubco) has entered into an agreement with the issuer terminating the previously proposed plan of arrangement and has entered into a new arrangement agreement dated Nov. 21, 2014, which includes a statutory plan of arrangement with the issuer and an additional party, TalkTran Capital Corp. (buyco).

Pursuant to the new plan of arrangement:

  1. Buyco shall purchase from pubco all the issued and outstanding shares of the issuer, by which buyco shall become the parent of the issuer.
  2. Buyco and the issuer shall exchange securities on a 1:1 basis, by which the issuer shall become the parent of buyco.
  3. The issuer and pubco shall exchange securities such that issuer shall issue 29.5 million of its common shares to pubco in exchange for pubco entering into a licence agreement with the issuer wherein the issuer will obtain from pubco an exclusive worldwide licence to use the language translation component of pubco's platform, and by which securities exchange the issuer shall become a reporting issuer in Alberta and British Columbia.

The proposed plan of arrangement is subject to approval by both the buyco shareholders and the Supreme Court of British Columbia. Further details about the plan of arrangement can be found under pubco's SEDAR profile.

We seek Safe Harbor.

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