Business
SPARQ Announces Amalgamation with Wholly-Owned Subsidiary and Name Change
Toronto, Ontario--(Newsfile Corp. - December 19, 2022) -  SPARQ Corp. (TSXV: SPRQ) (OTCQX: S...
About this update from Sparq Systems Inc
[{"type":"text","content":"SPARQ Announces Amalgamation with Wholly-Owned Subsidiary and Name ChangeToronto, Ontario--(Newsfile Corp. - December 19, 2022) -  SPARQ Corp. (TSXV: SPRQ) (OTCQX: SPRQF) (the \"Company\" or \"SPARQ\") is pleased to announce that its board of directors has authorized a short form vertical amalgamation with its wholly-owned subsidiary, SPARQ Systems Inc., pursuant to the Business Corporations Act (Ontario) (the \"Amalgamation\"). Upon completion of the Amalgamation, the Company intends to change its name from \"SPARQ Corp.\" to \"SPARQ Systems Inc.\" (the \"Name Change\"), subject to regulatory approval including that of the TSX Venture Exchange.In connection with the Name Change, it is anticipated that trading of the Company's common shares will continue on the TSX Venture Exchange under the ticker symbol \"SPRQ\" and on OTCQX under the symbol \"SPRQF\". Securityholders of the Company holding securities in the Company's prior name do not need to take any action as a result of the Name Change. The Amalgamation and the Name Change are expected to be effective on or about January 1, 2023.ABOUT SPARQSPARQ designs and manufactures next generation single-phase microinverters for residential and commercial solar electric applications. SPARQ has developed a proprietary PV solution called the Quad; the Quad inverter optimizes four PV modules with a single microinverter, simplifying design and installation, and lowering cost for solar power installations when compared to existing market offerings. SPARQ's head office is located at 945 Princess Street, Kingston, Ontario, K7L 0E9.Cautionary NoteCertain statements contained in this press release constitute \"forward-looking statements\". All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the expected timing of the Amalgamation and the Name Change and any statements preceded by, followed by or that include the words \"believe\", \"expect\", \"aim\", \"intend\", \"plan\", \"continue\", \"will\", \"may\", \"would\", \"anticipate\", \"estimate\", \"forecast\", \"predict\", \"project\", \"seek\", \"should\" or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company's expectations, estimates and projections r...