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International Sovereign Energy Corp. announces Arrangement Agreement with Wi2Wi Corporation and provides details of proposed reverse takeover
International Sovereign Energy Corp. announces Arrangement Agreement with Wi2Wi Corporation an...
About this update from Wi2wi Corp.
[{"type":"text","content":"\nInternational Sovereign Energy Corp. announces Arrangement Agreement with Wi2Wi Corporation and provides details of proposed reverse takeover\n\nInternational Sovereign Energy Corp. announces Arrangement Agreement with Wi2Wi Corporation and provides details of proposed reverse takeover\nCalgary, Alberta CANADA, July 09, 2012 /FSC/ - International Sovereign Energy Corp. (ISR.H - TSX Venture), (\"ISEC\") is pleased to announce that it has entered into an Arrangement Agreement dated July 6, 2012 with Wi2Wi Corporation (\"Wi2Wi\") pursuant to which ISEC will acquire all of the issued and outstanding shares of Wi2Wi by way of a plan of arrangement pursuant to the Canada Business Corporations Act (the \"Transaction\").  The Transaction is considered a reverse takeover under the policies of the TSX Venture Exchange (the \"TSXV\") and is subject to the approval of the Ontario Superior Court of Justice, the TSXV and shareholders of ISEC and Wi2Wi.  This transaction was previously announced on March 12, 2012.\nAbout Wi2Wi\nWi2Wi, a private growth-stage technology company based in Silicon Valley, is a leader in embedded wireless connectivity solutions for premium machine-to-machine (M2M) and major vertical markets worldwide.  Wi2Wi's core offering is a set of WiFi, WiFi-Bluetooth, and Global Position System (\"GPS\") solutions, which have complete hardware in a miniature subsystem form, systems software, and required regulatory approvals (FCC, CE, IC).  Wi2Wi's strategy is to offer plug-and-play wireless solutions enabling substantial savings on time-to-market, cost, system-integration and certification for devices in premium machine-to-machine (\"M2M\") and major vertical markets.\nWi2Wi was incorporated on July 9, 2004 under the Canada Business Corporations Act (\"CBCA\"). On December 12, 2005, Wi2Wi acquired all of the issued and outstanding shares of Wi2Wi, Inc. through a reverse takeover transaction and changed its name from \"Sargeant Bay Capital Inc.\" to \"Wi2Wi Corporation\".  Wi2Wi, Inc., a company incorporated under the laws of the State of Delaware with its head office in San Jose, California, serves as the operating subsidiary of Wi2Wi. Wi2Wi, Inc. was formed in October 2005 and was mainly inactive until it acquired Actiontec Electronic Inc.'s original equipment manufacturing...