An anonymous director reports
CALLIDUS CAPITAL ANNOUNCES RECEIPT OF INTERIM COURT ORDER
The Ontario Superior Court of Justice (commercial list) has granted an interim order, authorizing various matters in connection with Callidus Capital Corp.'s previously announced plan of arrangement with Braslyn Ltd. under Section 182 of the Business Corporations Act (Ontario) pursuant to an arrangement agreement dated Aug. 15, 2019.
The interim order provides, among other matters, that a special meeting of holders of Callidus's common shares may be held on Oct. 23, 2019, at 2 p.m. Toronto time, to consider the transaction and that the record date for determining the shareholders entitled to notice of, and to vote at, such meeting is the close of business, Toronto time, on Sept. 23, 2019.
The transaction is subject to approval of an affirmative vote of at least two-thirds of the votes cast by the shareholders present in person or represented by proxy at the meeting and a majority of the votes cast by shareholders, other than shareholders whose votes are required to be excluded for the purposes of minority approval under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). Further details regarding the transaction will be included in the management information circular to be mailed to shareholders of record as of the record date in accordance with applicable securities law. The circular will be filed by Callidus on SEDAR and will be available under the company's profile at SEDAR.
About Callidus Capital Corp.
Established in 2003, Callidus Capital is a Canadian company that specializes in innovative and creative financing solutions for companies that are unable to obtain adequate financing from conventional lending institutions. Unlike conventional lending institutions which demand a long list of covenants and make credit decisions based on cash flow and projections, Callidus provides credit facilities that have few, if any, covenants and are based on the value of the borrower's assets, its enterprise value and borrowing needs.
We seek Safe Harbor.
© 2020 Canjex Publishing Ltd. All rights reserved.