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ViveRE Provides Additional Information to Shareholders Regarding Annual Meeting
NOVA SCOTIA, CANADA / ACCESSWIRE / May 22, 2019 / ViveRE Communities Inc. (TSX-V: VCOM) ("...
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[{"type":"text","content":"ViveRE Provides Additional Information to Shareholders Regarding Annual MeetingNOVA SCOTIA, CANADA / ACCESSWIRE / May 22, 2019 / ViveRE Communities Inc. (TSX-V: VCOM) (\"ViveRE\" or the \"Corporation\") reminds shareholders that the 2019 annual meeting of shareholders has been scheduled for May 31, 2019 at 2:00 pm AST (the \"Meeting\").As more fully described in the Corporation's Management Information Circular, dated May 3, 2019, at the Meeting, shareholders will be asked, among other things, to consider, and if deemed advisable, pass resolutions for certain shares for debt and shares for services issuances of common shares (the \"Common Shares\") of the Corporation (collectively, the \"Issuances\").Multilateral Instrument 61-101 (\"MI 61-101\") regulates certain types of related party transactions to ensure the protection and fair treatment of minority security holders. The Issuances are a \"related party transaction\" for the purposes of MI 61-101. Sections 5.5 and 5.7 of MI 61-101 exempts issuers from the formal valuation and minority approval requirements for related party transactions contained in MI 61-101 if the fair market value of the subject matter of, and the fair market value of the consideration for, the transaction, insofar as it involves interested parties, is not more than 25% of the issuer's market capitalization. ViveRE is exempt from such requirements as the Issuances represent less than 5% of the Corporation's market capitalization.The price per Common Share for the Issuances have been conditionally approved by the TSX Venture Exchange (the \"TSXV\"). The $0.20 price per Common Share for the shares for services represents the closing price as of April 16, 2019, the date of ViveRE's shares for services submission to the TSXV. With the exception of the shares for debt to be issued to JESSOMELAW (which was priced at $0.20 pursuant to the April 16, 2019 submission to the TSXV), the $0.12 price per Common Share for the shares for debt issuance represents the closing price as of December 21, 2019, the date of the Corporation's shares for debt submission to the TSXV. With respect to the payment of future quarterly shares for services or shares for debt with the issuance of Common Shares: (a) the per Common Share price shall be established in accordance with the market price at the time of approval or issuance; (b) ...