The TSX Venture Exchange has accepted for filing documentation in connection with an agreement dated Dec. 12, 2024, among Ackroo Inc., Paystone Inc. and Atom Growth Inc., a wholly owned subsidiary of Paystone, as amended pursuant to an amending agreement dated Feb. 3, 2025. Under the arrangement agreement, the purchaser will acquire all of the issued and outstanding common shares in the capital of Ackroo for 15 cents in cash per share held, provided, however, that Steve Levely, a director and the chief executive officer of Ackroo, and another arm's-length shareholder will receive unsecured promissory notes in principal amounts equal to the consideration such deferring shareholder would be entitled to receive under the arrangement agreement, in exchange for the shares held by such deferring shareholders.
The exchange has been advised that shareholder approval of the arrangement agreement, in accordance with the requirements of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, was received from shareholders of Ackroo at a meeting of shareholders held on Feb. 24, 2025. Approval of the arrangement agreement by the Ontario Superior Court of Justice was obtained on March 3, 2025. For further information, see the management information circular dated Jan. 24, 2025, which is available on the SEDAR+ profile of Ackroo.
Effective at the close of business on Wednesday, April 2, 2025, the common shares of Ackroo will be delisted from the exchange at the request of Ackroo.
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