Globalive Technology Provides Additional Disclosure With Respect to the Previously Announced Reverse Takeover Transaction

TORONTO, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Globalive Technology Inc. (TSX-V: LIVE) (the a??Companya??), a technology company based in Toronto, Ontario, provides the following supplemental disclosure to the joint management information circular (the a??Circulara??) dated December 21, 2020 for the special meetings of the shareholders of the Company (a??GTI Shareholdersa??) and the shareholders of Yooma Corp. (a??Yoomaa??), each to be held on January 25, 2021 to consider the previously announced Arrangement. This news release should be read in conjunction with the Circular as a whole. Capitalized terms used and not otherwise defined in this news release shall have the meanings given to such terms in the Circular.
As disclosed in the Circular, pursuant to the Arrangement, GTI Shareholders will receive common shares of the Resulting Issuer (a??Resulting Issuer Sharesa??) as well as non-voting common shares (a??SpinCo Sharesa??) of GT Holdings Corp. (a??SpinCoa??). The SpinCo Shares will entitle shareholders to their pro rata share of any net proceeds should any of the Legacy Assets be sold or otherwise realized upon. SpinCo will be a reporting issuer under applicable securities laws following closing of the Arrangement, however, until SpinCo files its audited financial statements and related MD&A for the fiscal year ended December 30, 2020 on SEDAR, SpinCoa??s shareholders will not be permitted to sell, assign or transfer any SpinCo Shares. This restriction is being imposed until the financial statements and MD&A are filed to ensure that shareholders will have the disclosure required to make informed decisions about trading in the SpinCo Shares. SpinCo anticipates filing such financial statements and MD&A by April 14, 2021. The Company reminds shareholders that even when the restriction is lifted, the SpinCo Shares will not be listed on any exchange. The Resulting Issuer Shares are expected to be listed on the Canadian Securities Exchange upon completion of the Arrangement and will not be subject to any trading restriction.About Globalive Technology Inc.

Globalive Technology is a next generation software company and venture partner developing innovative solutions to disrupt traditional industries by leveraging artificial intelligence and machine learning technology stacks. Globalive Technology is controlled by Globalive Capital Inc., which has founded and co-founded 12 businesses over the past 20 years with six successful exits ranging fromA US$10MA toA US$1.3B. It has also made over 100 venture investments and has over 45 technology companies in its portfolio. For more information, visitA Yooma Corp.

Through its wholly-owned subsidiary, EDA and EDA-owned entities based in China and Japan, Yooma intends to leverage the success and experience of its senior management to build Yoomaa??s business into one of Asiaa??s leading cannabinoid (CBD) products social commerce companies through the distribution and sale of CBD beauty and skincare products via a strategically curated network of sales channels. Yooma has assembled a strong international team of multicultural industry professionals with extensive experience in digital marketing, ecommerce and social media in the pan-Asian region with particular depth in the Chinese ecommerce market.For media inquiries:
Rob Moysey
Communications Manager, Globalive
See also:
Leave a comment
  • Latest
  • Read
  • Commented
Calendar Content
«    Март 2021    »