ChitrChatr Enters into a New Plan of Arrangement with Talktran Communications Corp. and Talktran Capital Corp.

Calgary, Alberta (FSCwire) - ChitrChatr Communications Inc. (“ChitrChatr”, the “Company” or “Pubco”), developer of the Comprehensive Universal Unified Communications Platform (the “Platform”), is pleased to announce, further to its previous news release dated February 6, 2014 announcing a proposed plan of arrangement with TalkTran Communications Corp. (“Issuer”), that ChitrChatr has entered into an agreement with Issuer terminating the previously-proposed plan of arrangement, and that ChitrChatr has entered into a new arrangement agreement dated November 21, 2014 which includes a statutory plan of arrangement (the “Plan of Arrangement”) with 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 Issuer, by which Buyco shall become the parent of Issuer;

(2)        Buyco and Issuer shall exchange securities on a 1:1 basis, by which Issuer shall become the parent of Buyco; and

(3)        Issuer and Pubco shall exchange securities such that Issuer shall issue 29,500,000 of its common shares to Pubco in exchange for Pubco entering into a license agreement with Issuer wherein Issuer will obtain from Pubco an exclusive worldwide license to use the language translation component of Pubco’s Platform, and by which securities exchange 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 at www.sedar.com.

About ChitrChatr’s Platform

ChitrChatr’s Platform is designed to be an ALL-IN-ONE communications application.  The Platform’s ability is not limited or restricted by structure or geographic location.  Our powerful Platform will be released for all subscribers to use on all Platforms, to easily and freely communicate with all their contacts and networks, regardless of how those communications are sent. 

The features and operation of ChitrChatr’s Platform are available for viewing on YouTube at: https://www.youtube.com/watch?v=F_Srm59iA18

About ChitrChatr’s Trading Markets

ChitrChatr’s common shares trade on 3 markets:  (1) in Canada on the Canadian Securities Exchange (CSE) under the symbol ‘CHA’, (2) in Germany on the Frankfurt Stock Exchange (FRA) under the symbol ‘CA9’, and (3) in the United States on the OTCMarkets (OTC) under the symbol “CHICF”.

On Behalf of ChitrChatr Communications Inc.

Rahim Mohamed
President & Chief Executive Officer
Phone: 403-605-9429

For further information please email:  press@chitrchatr.com
 

None of the CSE, the Frankfurt Stock Exchange or OTC Markets have reviewed, approved or disapproved the content of this press release.

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the expected business and commencement of trading in the common shares of ChitrChatr. The forward looking information is based on certain key expectations and assumptions made by the company’s management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

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