RICHMOND, BC, July 26, 2019 /CNW/ - Helijet International
Inc. (TSX-V: HJI) ("Helijet" or the
"Corporation") announces the completion of its previously
announced going private transaction pursuant to which Daniel Sitnam, the Corporation's President and
CEO (the "Purchaser"), acquired all of the outstanding
common shares of the Corporation, other than the shares held by
insiders and their extended family and one other extended family
(the "Non-Participating Shareholders") pursuant to a
statutory plan of arrangement (the "Arrangement") and the
terms of an arrangement agreement between the Corporation and the
Purchaser dated May 15, 2019.
The Arrangement was completed following the approval of the
Supreme Court of British Columbia
and the satisfaction of various conditions precedent to the
Arrangement. Payment of cash consideration of $0.30 per common share for the common shares
acquired pursuant to the Arrangement will be made by the
Depositary, Computershare Trust Company of Canada.
Registered shareholders of common shares are required to
complete and sign a letter of transmittal and deliver it to the
Depositary, together with any share certificates they may hold and
the other required documents. Shareholders who hold their common
shares through a broker or other intermediary may contact that
broker or other intermediary for instructions and assistance in
receiving the consideration for their respective common shares.
Further information concerning these processes is outlined in the
Corporation's management information circular dated May 15, 2019 a copy of which is available, along
with the letter of transmittal, under the Corporation's profile at
www.sedar.com.
Pursuant to the Arrangement, all of the outstanding options of
the Corporation were surrendered and cancelled in exchange for a
payment of $0.10 per Option. Other
than the options, the Corporation did not have any other dilutive
securities outstanding.
Any questions regarding the cash consideration, including any
request for another letter of transmittal should be directed to
Computershare Investor Services Inc., at its North American
toll-free number: 1‐800‐ 564-6253; or for outside North America at +1 (514) 982-7555 or via
email to service@computershare.com.
In connection with the completion of the Arrangement, the
Corporation has applied to have the common shares of the
Corporation de‐listed from the TSX Venture Exchange and expects
that the common shares will be delisted effective at the close of
business on July 26, 2019. The
Corporation will also apply to cease to be a reporting issuer under
applicable Canadian securities laws.
About Helijet International Inc.
Helijet International is a Canadian-owned company and the
world's largest scheduled helicopter airline carrying well over 2.4
million passengers in the past 33 years. In addition to its
scheduled helicopter services, Helijet is the major service
provider of dedicated medically equipped helicopters to BC
Emergency Health Services. Helijet also provides exclusive use
helicopters and business turbojet services to world renowned Sport
Fishing Resorts, public service and energy companies throughout the
West Coast of British Columbia and
Pacific North West. Online at www.helijet.com. Twitter:
@Helijet.
Neither the TSX Venture Exchange nor its Regulation Services
Provider as that term is defined in the policies of the TSX Venture
Exchange accepts responsibility for the adequacy or accuracy of
this release.
Caution Regarding Forward-Looking Information Forward-looking
statements - Certain information set forth in this news release may
contain forward-looking statements that involve substantial known
and unknown risks and uncertainties. Forward-looking
statements are often, but not always, identified by words such as
"believes", "may", "likely", "plans", or similar words.
Forward-looking statements included in this news release include
statements with respect to (i) the Corporation's plan to de-list
from the TSX Venture Exchange; and (ii) the Corporation's plan to
apply to cease being a reporting issuer. These
forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the control of the
Corporation, including, but not limited to the impact of general
economic conditions, industry conditions, currency fluctuations,
and dependence upon regulatory approvals. Readers are
cautioned that the assumptions used in the preparation, may prove
to be imprecise and, as such, undue reliance should not be placed
on the forward-looking statements. The Corporation does not
assume any obligation to update the forward-looking statements to
reflect changes in assumptions or circumstances other than as
required by applicable law.
SOURCE Helijet International Inc.
