Business
Newcastle and Martello Announce Receipt of Conditional Approval for RTO & Provide Update on Reverse Takeover Transaction
Newcastle and Martello Announce Receipt of Conditional Approval for RTO & Provide Upda...
About this update from Martello Technologies Group, Inc.
[{"type":"text","content":"\n\n\n\nNewcastle and Martello Announce Receipt of Conditional Approval for RTO & Provide Update on Reverse Takeover Transaction\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\nNewcastle and Martello Announce Receipt of Conditional Approval for RTO & Provide Update on Reverse Takeover Transaction\nCanada NewsWire\nVANCOUVER, July 5, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.  ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./\n\n\n\nVANCOUVER, July 5, 2018 /CNW/ - Newcastle Energy Corp. (NEX: NGY.H) (\"Newcastle\" or the \"Company\") and Martello Technologies Corporation (\"Martello\") are pleased to announce that they have received TSX Venture Exchange (\"TSXV\") conditional approval of their reverse takeover transaction previously announced April 12 and June 5, 2018 (the \"Proposed Transaction\"). \n\nThe Company and Martello are working diligently to satisfy all conditions to final exchange acceptance. \"TSXV conditional approval is an important milestone in Martello's strategy\", said John Proctor, President and CEO of Martello. \"As network complexity grows under the demands of real-time services, we look forward to continuing to take a leadership role in powering the network performance of businesses around the world. We're pleased to have a growing number of investors join us on this journey\". \n\nThe parties are also pleased to provide the following updates regarding the Proposed Transaction:\n\nOn June 28, 2018 the Company and Martello executed an amalgamation agreement (the \"Amalgamation Agreement\") with 10831794 Canada Inc, a wholly owned subsidiary of the Company (\"Mergersub\"). On closing of the Proposed Transaction, Martello and Mergersub will amalgamate to form a wholly owned subsidiary of the Company (hereinafter referred to as the \"Resulting Issuer\"). \n\nAlso, the Company confirms:\n\n\nThe Proposed Transaction is not subject to shareholder approval for the following reasons:\n\nThe Propo...