IOU Board of Directors Continues to Put Insider Interests Ahead of Common Shareholders
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 07/13/15 -- Qwave Capital LLC ("Qwave"), a venture capital firm focused on promising technologically advanced companies, today provided the following response to the IOU Financial Inc. ("IOU") Directors'' Circular related to Qwave''s premium, all-cash offer (the "Offer") to acquire 34,000,000 of the outstanding common shares (the "Common Shares") of IOU for $0.50 per Common Share:
Qwave will provide further updates on the IOU litigation and its impact, if any, on the Qwave Offer as developments warrant.
Shareholder Questions
Shareholders may obtain a free copy of the Qwave Offer and take-over bid circular and other documents filed by Qwave with the Canadian securities regulators at . The Offer and take-over bid circular and other documents may also be obtained for free by contacting the Depositary and Information Agent, Laurel Hill Advisory Group, toll free in North America at 1-877-452-7184, collect outside North America at 416-304-0211, or by email at .
About Qwave
Qwave is a venture capital firm focused on promising, technologically advanced companies. Qwave draws upon a management group with more than 20 years of experience and a strong track record of finding and investing in companies with breakthrough technologies and excellent potential for growth and value creation.
ON BEHALF OF QWAVE CAPITAL LLC
Serguei Kouzmine, Manager
Forward-Looking Information
Information and statements contained in this news release that are not historical facts are "forward-looking information" within the meaning of Canadian securities legislation that involves risks and uncertainties. Forward-looking information included herein is made as of the date of this news release and Qwave does not intend, and does not assume any obligation, to update forward-looking information unless required by applicable securities laws. Forward-looking information relates to future events or future performance and reflects management of Qwave''s expectations or beliefs regarding future events. In certain cases, forward-looking information can be identified by the use of words such as "plans", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. Examples of forward-looking information in this news release include, but are not limited to, statements with respect to the completion of the Offer; IOU''s prospects in the event that the Offer is completed; IOU''s prospects in the event that the Offer is not completed; the effect on IOU''s share price if the Offer is not completed; Qwave''s anticipated actions with respect to IOU if the Offer is completed; the expiry time of the Offer; Qwave''s assessment of the effect of the Offer on IOU and the shareholders of IOU; the percentage of Common Shares that will ultimately be taken up and paid for under the Offer on a pro-rata basis, if pro-rata take up is required, and if the Offer is completed; and the timing and prospects for shareholder acceptance of the Offer and the implementation there of. This forward-looking information is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information. Such factors and assumptions include, but are not limited to: the number of Common Shares validly deposited under, and not withdrawn from, the Offer at the expiry time of the Offer; Qwave''s ability to obtain and maintain timely receipt of regulatory approvals including approval of the TSX-V of the Offer and approval of the Autorite des Marches Financiers of the Offer; and Qwave''s ability to take-up and pay for Common Shares under the Offer at the expiry time, which may be prevented by the continued operation of the IOU shareholder rights plan and legal action initiated by IOU.
By its very nature, forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking information. Such factors include, but are not limited to: the need to satisfy regulatory and legal requirements with respect to the Offer; dilution to shareholders from any equity financings; and influence of significant shareholders. Although Qwave has attempted to identify important factors that could cause actual actions, events or results to differ materially from forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated by such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information.
The TSX-V has neither approved nor disapproved the form or content of this release. Information concerning IOU contained in this news release and has been taken from, or is based upon, publicly available information and records on file with Canadian securities regulatory authorities and other public sources. IOU has not reviewed this news release and has not confirmed the accuracy and completeness of the information in respect of IOU contained herein. Although Qwave has no knowledge that would indicate that any statements contained herein concerning IOU taken from or based on such documents and records are untrue or incomplete, neither Qwave nor its manager Dr. Kouzmine assumes any responsibility for the accuracy or completeness of such information or for any failure of IOU or its directors or officers to disclose events or facts which may have occurred or which may affect the significance or accuracy of any such information but which are unknown to it. The information presented regarding the percentage of Common Shares subject to the Offer is based upon publicly available information and records on file with Canadian securities regulatory authorities.
You may call our Depositary and Information Agent, Laurel Hill Advisory Group, if you have questions or requests for additional copies of the take-over bid circular and other documents filed by Qwave with the Canadian securities regulators. Questions and requests should be directed to the following telephone numbers:
Contacts:
Qwave Capital LLC
3445 Stratford Road NE, 3902
Atlanta, GA 30326
Laurel Hill Advisory Group
North American Toll-Free: 1-877-452-7184
Collect Calls Outside North America: 416-304-0211
Email:assistance(at)laurelhill.com
Media Inquiries:
Ian Noble
Edelman Canada
604-561-3675
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Datum: 13.07.2015 - 05:00 Uhr
Sprache: Deutsch
News-ID 1371667
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