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Softlab9 and Clean Go Green Go to Hold Special Shareholder Meetings on Proposed Plan of Arrangement

2021-02-04 12:51 ET - News Release

(via TheNewswire)



 

FEBRUARY 4, 202 1 – TheNewswire - Vancouver, BC. - Softlab9 Technologies Inc. (CSE: SOFT ) ; ( Frankfurt: APO2 ) ; ( OTC: SOFSF) ; (CNSX: SOFT.CN); ( “Softlab9” or the “Company” ), announces that it and Clean Go Green Go Inc. (“ CleanGo GreenGo ”) have mailed a joint management information circular dated January 25, 2021 and related meeting and proxy materials (collectively, the Meeting Materials ) to Softlab9 shareholders and CleanGo GreenGo shareholders in connection with the proposed plan of arrangement (the “ Arrangement ”). The Meeting Materials have been filed on SEDAR under Sofltab9’s profile.

Softlab9 and CleanGo GreenGo agreed to combine their respective businesses and entered into an arrangement agreement on November 20, 2020. CleanGo GreenGo received an interim order from the Court of Queen’s Bench of Alberta approving the Arrangement on January 22, 2021. The boards of directors of Softlab9 and CleanGo GreenGo have unanimously approved the arrangement agreement and determined that it is in the best interests of their respective companies.  

Softlab9 and CleanGo GreenGo Special Meetings

Special meetings (individually a “ Meeting ” and collectively, the “ Meetings ”) for Softlab9 common shareholders and for CleanGo GreenGo Class “A” common shareholders will be held to consider and vote on resolutions in connection with the Arrangement, as described in the Circular. Due to COVID-19, and in alignment with the recommendations of Canadian public health officials, the Meetings will be conducted virtually via live webcasts.

Softlab9 and CleanGo GreenGo are reminding their shareholders to vote in advance of the Meetings via proxy; that shareholders will not be allowed to attend the Meetings in person; and shareholders will be able to participate in the Meetings electronically but there will be no voting at the Meetings.  

The Softlab9 Meeting will be held at 9:00 am (Pacific time) on February 22, 2021 and the CleanGo GreenGo Meeting will be held at 11:00 am (Mountain time) on February 22, 2021.

How to Vote

Shareholders are reminded that there is no in person voting at the virtual Meetings and to ensure that they send in their proxies prior to the deadline.

The completion of the Arrangement is subject to, among other things, (i) the approval of the acquisition of CleanGo GreenGo as a “fundamental change” under the policies of the Canadian Securities Exchange (“ CSE ”) by more than 50% of the votes cast by Softlab9 common shareholders at the Softlab9 Meeting; (ii) the approval of the Arrangement by not less than 66 ⅔ % of the votes cast by CleanGo GreenGo Class “A” common shareholders at the CleanGo GreenGo Meeting, (iv) the approval of the Court of Queen’s Bench of Alberta, and (v) the receipt of regulatory approval from the CSE.

  

About the Transaction

 

The Arrangement is currently anticipated to be completed in the first quarter of 2021, subject to satisfaction of all closing conditions. Upon completion of the transaction, the combined company will operate as CleanGo Innovations Inc. and be headquartered in Calgary, Alberta.

About CleanGo GreenGo

 

CleanGo GreenGo is an FDA and Health Canada approved Manufacturer of Green, Non-Toxic, and Biodegradable suite of cleaning products for industrial, commercial and consumer markets. CleanGo GreenGo, also manufactures hand sanitizer gel and wipes which are sold throughout the USA and Canada.

 

The active ingredient in CleanGo GreenGo‘s proprietary solution was tested in 2015 by the US EPA and found effective against viruses and bacteria’s including the Human Coronavirus on a hard surface. CleanGo's products are sold on various online platforms, including Amazon, as well as through distribution in retail, wholesale, and government agencies. CleanGo GreenGo utilizes a Patent Pending IP. The Patent was filed with the United States Patent and Trademark Office in February 2020 and currently holds a Patent Pending Status.

 

Cautionary Note:

 

The Company is not making any express or implied claims that CleanGo GreenGo ’s products have the ability to eliminate, cure or contain Covid-19 (or the SARS-2 Coronavirus). Do not drink or consume any of the CleanGo GreenGo products at any time. Follow the instructions on the bottles. The CleanGo GreenGo products are meant to be used on surfaces and hands to sanitize to protect against bacteria and viruses. CleanGo GreenGo products are not a cure, nor do the Company or CleanGo GreenGo mean to imply that they are a cure, for COVID-19.

 

For further information please contact:

Rahim Mohamed                                        

Chief Executive Officer                               

Phone: (403) 605-9429                               

RM@softlab9.com                                  

https://www.softlab9.com/        

Anthony Sarvucci

Chief Executive Officer

(403) 401-2912

anthony@cleangogreengo.com

www.cleangogreengo.ca

Paul Searle

Corporate Communications

Citygate Capital Corp

Phone: (778) 240-7724

psearle@citygatecap.com

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-looking Information

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements in this presentation that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations, and orientations regarding the future, including without limitation statements related to the Meetings and completion of the Arrangement. Forward-looking statements can often be identified by words such as “will”, “plans”, “expects”, “may”, “intends”, “ anticipates ”, “believes”, proposes” or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements are based on certain assumptions by management regarding the Company, including, without limitation, the Company’s ability to acquire CleanGo GreenGo and complete the Arrangement and obtain required regulatory approvals and the timing thereof. Actual results could differ from those projected in any forward-looking statements due to numerous factors including, risks and uncertainties relating to the inability of the Company, to, among other things, obtain any required governmental, regulatory or stock exchange approvals, permits, consents or authorizations required to execute its proposed business plans, and obtain the financing required to carry out its planned future activities. Other factors such as general economic, market or business conditions or changes in laws, regulations and policies affecting the Company’s operations may also adversely affect the future results or performance of the Company. The Company can provide no guarantee that it will be successful in completing the acquisition of CleanGo GreenGo. Investors are cautioned that forward looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company does not intend to update or revise any forward-looking statements, except as expressly required by law.

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