Personas Executes Definitive Agreement to Sell Peeks Asset
Personas Executes Definitive Agreement to Sell Peeks Asset
Toronto, Ontario--(Newsfile Corp. - August 20, 2024) - Personas Social Incorporated (TSXV: PRSN) (the "Company") announces that further to its press release dated August 16, 2024, it has entered into a definitive agreement (the "Agreement") with Mii.TV Inc. ("Mii.TV") dated August 19, 2024 with respect to the sale of the assets of the Company's 'Peeks Social' web and app based platform ("Peeks Asset") to Mii.TV (the "Transaction").
安大略省多倫多--(Newsfile Corp. - 2024年8月20日)- Personas Social Incorporated(TSXV: PRSN)(「公司」)宣佈,根據其2024年8月16日發佈的新聞稿,該公司已於2024年8月19日與Mii.TV Inc.(「Mii.TV」)簽署了一份最終協議(「協議」),就Peeks Social網站和應用平台(「Peeks Asset」)的資產出售與Mii.TV(「本次交易」)達成協議。
If the Transaction is consummated, the Company plans to devote its resources to the development of its new and re-launched Keeks Social web and app based platform. Keek Social offers users the chance to share their lives and connect with others through both short-form and long-form videos.
如果本次交易完成,公司打算將資源投入新的和重新推出的Keeks Social網站和應用平台的開發工作。 Keek Social爲用戶提供了分享他們的生活並通過短視頻和長視頻與他人聯繫的機會。
The Transaction is subject to customary closing conditions such as board and shareholder approvals, regulatory approvals and that no greater than 5% of dissent rights shall be exercised by shareholder of the Company in connection with the Transaction, which such amount is subject to waiver by the directors of the Company, in their sole and absolute discretion. The Transaction is also subject to approval by the TSX Venture Exchange (the "TSXV").
該交易須符合常規交割條件,如董事會和股東批准,監管批准,以及不超過公司股東在交易中行使異議權的5%,此金額由公司董事會決定是否減免。該交易還須獲得TSX Venture Exchange(「TSXV」)的批准。
A special committee of directors of the Company, made up of Bill Lavin (CFO and Director) and James Westlake (Director) negotiated the Agreement on behalf of the Company. Mr. Lavin and Mr. Westlake, each of whom are directors of the Company, have no interest in nor are they related parties to Mii.TV. Mr. Itwaru recused himself from the negotiations and abstained from voting as a director on the Transaction as a result of his interests in Mii.TV.
公司的董事特別委員會由比爾·拉文(首席財務官兼董事)和詹姆斯·韋斯特萊克(董事)代表公司進行協商。拉文和Westlake先生作爲公司的董事,沒有與Mii.TV有利益關係也不是相關方。Itwaru先生因其對Mii.TV的利益而退出了談判,並在本次交易中作爲董事棄權投票。
The Transaction is a "related party transaction" for the purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101") by virtue of the fact that Mark Itwaru, the Chairman and CEO of the Company controls and is also a director and officer of Mii.TV, thereby necessitating that the Company obtain majority of the minority shareholder (>66 2/3 basis) approval of the Transaction, and the sale of the Peeks Asset is being considered a sale of all or substantially all of the assets of the Company, which will be more fully described in the Information Circular (defined below). The Company's Directors and Special Committee (defined below) will obtain a fairness opinion on the Transaction from an independent third party, but a formal valuation based on TSXV Policy 5.4 has not been obtained. The Company may file a material change report prior to or upon completion of the Transaction, if and as required, and the Transaction does not result in any new insider or control person being created for the Company as no new securities are being issued.
該交易屬於《多邊立場聲明61-101 - 少數股東在特別交易中受到保護》的「相關方交易」,因爲公司的主席兼首席執行官馬克·伊特瓦魯控制Mii.TV並擔任其董事和高管,公司將需要獲得交易的少數(> 66 2/3)的股東批准,並且Peeks Asset的出售被視爲公司全部或實質性全部資產的出售,將在以下信息披露中作更全面的介紹。公司的董事和特別委員會將從獨立第三方獲得有關該交易的公平意見,但未獲得基於TSXV政策5.4的正式估值。公司可能在交易完成前或完成後提交重大變更報告,並且該交易不會導致任何新的內幕人或控股人被公司創建,因爲不發行新證券。
Details of the Transaction
交易詳情: 按照之前公佈的安排協議("Transaction"),Beedie Capital將獲得Think全部股份(除了歸屬Beedie Capital和一部分董事和高管的股份以及其他人持有的股份(Unwilling者)),並以每股$0.32的現金對價進行收購。交易預計將在2024年第二季度完成,並已獲得股東、法庭和監管機構批准及類似交易的其他正常監管條件。Shareholders將在2024年4月4日下午2:00(多倫多時間)通過直播音頻網絡會議方式參加即將召開的特別股東大會。
The Company will sell 100% of the Peeks Asset to Mii.TV for a purchase price of $4,540,000 ("Purchase Price"). The Transaction is structured whereby 50% of the Purchase Price will be paid on closing ($2,270,000) ("Closing Amount") and this Closing Amount will be made up of the sum of $1,056,280 which consists of accounts payable of the Peeks Asset that will be assumed by Mii.TV and the sum of $1,160,720 representing debt deposits owed to customer of the Peeks Assets, and the remaining amount of $53,000 will be paid in cash on closing. The remaining 50% of the Purchase Price will be paid over the course of the next 36 months from the date of closing with 16.6% ($756,666) of the Purchase Price being paid on or before the first anniversary of the closing of the Transaction, 16.6% ($756,666) of the Purchase Price to be paid on or before the second anniversary of the closing of the Transaction and the remaining 16.8% ($756,668) of the Purchase Price to be paid within 36 months from the date of closing of the Transaction (collectively, these amounts are the "Remaining Purchase Price Payments"), subject to the following adjustment that have been agreed to by the parties – following the closing of the sale of the Peeks Asset from the Company to Mii.TV, if the Peeks Asset ceases to operate, indefinitely as agreed to by the Company and Mii.TV in writing, due to third party matters, decisions or rulings, regulatory, banking or otherwise, Mii.TV shall only be required to pay a pro-rata amount of the Remaining Purchase Price Payments based on the date and time of when the Peeks Asset ceased to operate following closing of the Transaction, and for greater certainty, if there are interruption(s) in the business of the Peeks Asset, as agreed to by the Company and Mii.TV in writing, the Remaining Purchase Price Payments will still be owed, due and payable.
公司將以454萬美元的購買價格(「購買價格」)將Peeks Asset的100%出售給Mii.TV。交易結構爲,購買價格的50%將在交易完成時支付(227萬美元)(「收盤金額」),此收盤金額將由Peeks Asset的應付賬款的總和(由Mii.TV承擔)和$ 1,160,720代表Peeks Asset的客戶的債務存款組成,其餘$ 53,000將以現金支付。購買價格的其餘50%將在交割日起36個月內支付,第一個週年之前支付購買價格的16.6%(756,666美元),第二個週年之前支付購買價格的另外16.6%(756,666美元),剩餘的16.8%(756,668美元)將在交易完成之後36個月內支付購買價格(這些金額統稱爲「剩餘購買價格支付」)。如果由於第三方事項,決定或裁決,監管,銀行或其他原因導致Peeks Asset無限期停止運營,Mii.TV僅需要根據Peeks Asset在交易完成後停止運作的日期和時間的比例支付剩餘購買價格支付金額。保證,如果Peeks Asset的業務有中斷,資產的剩餘購買價格支付仍然會被欠款和支付。
Upcoming Annual General and Special Shareholder Meeting & Approvals
即將舉行的股東大會和董事會批准
In connection with the Transaction, the Company is preparing an information circular (the "Information Circular") which has been submitted to the TSXV in accordance with TSXV policies and will be mailed to Company shareholders (the "Shareholders"). The Company intends to hold an annual general and special meeting of shareholders of the Company on October 1, 2024 to, among other things, seek to obtain the requisite approvals from shareholders, and disinterested shareholders as required for the Transaction, and to obtain certain other general meeting matter approvals (the "Meeting").
有關本交易,公司正在準備一份信息披露書(「信息披露書」),根據TSXV政策已提交給TSXV,並將通過郵寄寄給公司股東(「股東」)。公司打算於2024年10月1日舉行股東年度大會兼特別會議,以尋求獲得股東和非利益相關股東對交易所需的批准,以及獲得有關其他常規會議事宜的批准(「會議」)。
In connection with the Meeting, the Information Circular and meeting materials, being made up of the notice of meeting, form of proxy, a fairness opinion prepared by an independent third party and related meeting materials (collectively, the "Meeting Materials") will be mailed by the requisite times to their Shareholders for the Meeting date on October 1, 2024. Shareholders are urged to carefully review all Meeting Materials as they contain important information concerning the Transaction and the rights and entitlements of the Shareholders in relation thereto. The Meeting Materials will be made available on SEDAR+ under the Company's profile at . The full terms of the Transaction and accompanying requisite approvals are in the Information Circular. Subject to receiving all such requisite approvals, the Transaction is anticipated to be completed on or before October 31, 2024.
有關會議,會議材料,由會議通知,投票表格,由獨立第三方準備的公正意見書和其他有關會議的材料組成(統稱爲「會議材料」),將按規定時間郵寄給公司股東以參加於2024年10月1日舉行的股東大會。敬請股東仔細閱讀所有會議材料,因爲它們包含有關交易及與之相關的股東權利和利益的重要信息。會議材料將通過公司的SEDAR +檔案提供。
About Personas
Personas Social Incorporated is a Canada-based company engaged in the business of offering live video conferencing technology, live streaming, social media products and services for use by consumers and businesses, with a focus on mobile (iOS and Android) products. It focuses on providing social commerce-enabled products which allow for a monetizable user experience to all users, consumers and businesses alike. The Company accomplishes this by offering products which are complete with enterprise-grade e-commerce infrastructure including multi-currency, multi-lingual, turnkey mobile commerce suites for users.
關於 Personas,Personas Social Incorporated 是一家位於加拿大的公司,專注於提供移動(iOS 和 Android)產品的現場視頻會議技術、直播、社交媒體產品及服務。其重點在於提供具有社交商務能力的產品,可爲所有用戶、消費者和企業提供貨幣化的用戶體驗。該公司提供的產品配備了企業級電子商務基礎架構,包括多種貨幣、多種語言、用戶的交鑰匙移動商務套件。
Richard Steed
電子郵件:rsteed@tingoemeret.com
For further information, please contact:
Personas Social Incorporated
Richard Steed
Chairman & Chief Executive Officer
Telephone: 647-789-0074
Email: rsteed@tinglemerrett.com
如需更多信息,請聯繫:
本新聞稿包含有關提交年度報告的預計時間的前瞻性聲明。不能保證這些陳述將被證明準確,實際結果和未來事件可能與這些陳述所預期的有所不同。導致實際結果與公司預期不同的重要因素風險會不時地在公司向證券監管機構提交的備案文件中詳細說明。本新聞稿中包含的前瞻性聲明明確受到此警告性聲明的限制。本新聞稿中包含的前瞻性聲明是截至本新聞稿發佈日期的聲明,公司將根據加拿大證券法明確要求更新或修訂其中包含的任何前瞻性聲明。
Richard Steed
tsxv
電話:647-789-0074
電子郵件:rsteed@tinglemerrett.com
Forward-Looking Statements
This press release contains statements that constitute " forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
前瞻性聲明
本新聞稿包含構成「前瞻性陳述」的聲明。這種前瞻性陳述涉及可能導致公司的實際結果,業績或成就或發展與預期結果,業績或成就在事實上有所不同的已知和未知的風險,不確定性和其他因素。
Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include: information relating to the Transaction and all ancillary matters; the Agreement and closing of the Transaction, and the sale of the Peeks Asset and it being able to continue to operate as a going concern. Such statements and information reflect the current view of the Company. By their nature, forward- looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements.
雖然公司認爲,在其官員和董事的經驗,目前的條件和預期的未來發展以及已經被認爲是適當的其他因素的背景下,本前瞻性信息反映的預期結果是合理的,但不應過度依賴它們,因爲公司不能保證它們是否會被證明是正確的。在本新聞稿中使用「估計」,「項目」,「信念」,「預期」,「計劃」,「預測」,「可能」或「應該」以及這些詞或類似的術語的否定形式是用來識別前瞻性陳述和信息的。本新聞稿中的前瞻性陳述和信息包括:有關交易及所有附屬事宜的信息;協議和交易的完成以及Peeks Asset能夠繼續作爲運營的情況。這樣的聲明和信息反映了公司的當前觀點。因其性質而言,前瞻性陳述涉及已知和未知的風險,不確定性和其他因素,這些因素可能導致實際結果和未來事件與所述前瞻性聲明和信息所表達的結果有所不同。
The forward-looking statements contained in this news release represent the expectations of the Company as of the date of this news release and, accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking statements and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management' s beliefs, estimates or opinions, or other factors, should change.
本新聞稿中包含構成「前瞻性陳述」的語句,這些語句包含已知和未知的風險、不確定性和其他因素,可能導致公司實際的結果、業績、成就或發展與預期的結果、業績、成就或發展存在實質性差異。雖然公司在其官員和董事的經驗以及當前情況和預期未來發展和其他已經被認爲是恰當的因素來看,認爲本前瞻性信息所反映的預期是合理的,但出自這種情況的投資有可能導致一定的風險和不利影響。本新聞稿中使用的「估計」、「項目」、「信仰」、「預期」、「計劃」、「預測」、「可能」、「應該」或類似的詞語的否定形式及其變體或類似詞語,旨在識別前瞻性陳述和信息。本新聞稿中的前瞻性陳述和信息包括有關交易及相關必要事項的信息,以及 Peeks 資產的出售和其能夠繼續作爲經營實體運營的能力這一內容。這些語句和信息反映了公司目前的看法。但由於其所包含的風險和不確定性,這些語句和信息可能會導致實際的結果、業績、成就或發展與所表述或暗示的前瞻性陳述和信息表達的預期存在重大差異。
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.
TSX Venture Exchange 及其監管服務供應商(如 TSX Venture Exchange 政策中定義的那樣)均未審查或承認本次發佈的充分或準確性。