Stockwatch

Doxa Energy Ltd
Symbol	DXA
Shares Issued	33,980,141
Recent Sedar+ Documents

Doxa shareholders approve ProStar reverse takeover

2020-12-17 16:17 ET - News Release

Subject: Doxa Energy Ltd. (DXA.V) Word Document File: '\\doc\emailin\20201217 130550 Attachment Doxa - Press Release - December 17 2020 Meeting Results JR SH1.docx' Doxa Energy Ltd. - Administration 1450-700 West Georgia Street Vancouver, Canada V7Y 1K8 Ph: 604-662-3692 Fax: 604-662-3231 Doxa Energy US, Inc. - Technical 5070 Mark IV Parkway Fort Worth, Texas 76106 Ph: 817-838-1800 Fax: 817-838-1824 DOXA ANNOUNCES SHAREHOLDER APPROVAL AND PROPOSED CLOSING DATE FOR PROSTAR RTO TRANSACTION December 17, 2020 TSX Venture Exchange Trading Symbol: DXA.V www.doxaenergy.com Doxa Energy Ltd ("Doxa" or the "Company") announces that further to its press release dated November 20, 2020, and its proposed Reverse Take-Over (RTO) by ProStar Geocorp. Inc. (the "Transaction"), the Company's shareholders have, as of December 17, 2020, approved the Transaction and the matters associated with the Transaction, including the disposition of the Company's oil and gas assets and a debt settlement with the Company's related party creditors. The Transaction is expected to close on December 28, 2020, with Doxa changing its name to "ProStar Holdings Inc." in connection therewith (the "Resulting Issuer") with trading in the Company's common shares re-commencing in January 2021 under the new trading symbol MAPS. "We are pleased to have received overwhelming support for the RTO transaction from both the Doxa and the ProStar shareholders. stated Page Tucker, ProStar's founder and CEO. "This means we are now on track to close the transaction by year-end and to be listed soon thereafter." For additional information concerning the Transaction and ProStar GeoCorp Inc., please see the Company's information circular dated November 16, 2020 (the "Circular"). The Circular can be found under the Company's SEDAR profile at www.sedar.com. About ProStar ProStar is incorporated under the laws of the State of Delaware and is a Software as a Service (SaaS) company that provides patented Precision Mapping Solutions(TM). ProStar's flagship solution is PointMan(TM), a natively cloud and mobile solution designed to capture, record and display the precise location of subsurface assets, including buried utilities and pipelines. Additional information concerning ProStar is available at www.prostarcorp.com. Trading Halt The Doxa Shares continue to be halted from trading, and the trading of Doxa Shares is expected to remain halted pending completion of the Transaction. Forward-Looking Statements This news release contains certain "forward-looking statements," including, for example, statements relating to the Transaction, and the timing for completion of the Transaction and conversion of the Subscription Receipts. Such forward-looking statements involve risks and uncertainties, both known and unknown. The results or events depicted in these forward-looking statements may differ materially from actual results or events. In addition to other factors and assumptions, which may be identified herein, assumptions have been made regarding and are implicit in, among other things: receipt of regulatory approvals, the state of the capital markets, including the impact of the COVID-19 pandemic, tax issues associated with doing business internationally, the ability of ProStar to successfully manage the risks inherent in pursuing business opportunities in the technology industry, and the ability of ProStar to obtain and maintain qualified staff, equipment and services in a timely and cost-efficient manner to develop its business. Any forward-looking statement reflects information available to Doxa as of the date of this news release and, except as may be required by applicable securities laws, Doxa disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. On behalf of the board of directors of the Company: John D. Harvison President and Chief Executive Officer For further information contact: Paul McKenzie, director at 604.669.7330 Completion of the Transaction is subject to a number of conditions, including but not limited to, TSX-V acceptance and if applicable pursuant to TSX-V requirements, disinterested shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative. The TSX-V has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this news release. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.