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AIMIA ANNOUNCES FAVORABLE DECISION OF THE ONTARIO CAPITAL MARKETS TRIBUNAL
AIMIA ANNOUNCES FAVORABLE DECISION OF THE ONTARIO CAPITAL MARKETS TRIBUNAL Canada NewsW...
About this update from Aimia Inc.
[{"type":"text","content":"\n \n \n \n AIMIA ANNOUNCES FAVORABLE DECISION OF THE ONTARIO CAPITAL MARKETS TRIBUNAL\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n RECENTLY CLOSED PRIVATE PLACEMENT AFFIRMED\n \n \n \n \n TORONTO\n \n \n ,\n \n \n Dec. 15, 2023\n \n \n /CNW/ - Aimia Inc. (TSX: AIM) (\"\n \n Aimia\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that Mithaq Canada Inc., a wholly-owned subsidiary of Mithaq Capital SPC (together, \"\n \n Mithaq\n \n \") was unsuccessful in its application (the \"\n \n Application\n \n \") to the Ontario Capital Markets Tribunal (the \"\n \n Tribunal\n \n \") to, among other things, cease trade the\n \n October 21, 2023\n \n private placement of the Company (the \"\n \n Private Placement\n \n \"). After a hearing held on\n \n December 12\n \n and 13, 2023 (the \"\n \n Hearing\n \n \"), the Tribunal dismissed the Application and confirmed it would not amend or vary the approval of the Private Placement previously given by the Toronto Stock Exchange. This confirms the validity of the Private Placement, and as a result ensures Aimia's additional liquidity and recent board appointments remain in place.\n \n \n Phil Mittleman, Chief Executive Officer of Aimia, remarked, \"We are very pleased with the Tribunal's decision regarding the Private Placement, and will continue to focus on creating value for Aimia's stakeholders, supported by this esteemed group of strategic investors.\"\n \n \n As previously announced, Aimia adopted a tactical shareholder rights plan (the \"\n \n Tactical Shareholder Rights Plan\n \n \") pursuant to a shareholder rights plan agreement entered into with TSX Trust Company, as rights agent, dated\n \n December 6, 2023\n \n for the specific purpose of ensuring that Mithaq did not acquire shares of the Company pursuant to a regulatory exemption (the \"\n \n Exemption\n \n \") prior to the Hearing. The Tribunal concluded that Mithaq should not be prohibited from using the Exemption, and so Aimia is terminating the Tactical Shareholder Rights...