•  
BACK SEND PRINT-

BIOX Corporation
BIOX Corporation completes plan of arrangement



September 27, 2017

BIOX Corporation ("BIOX" or the "Corporation") (TSX: BX) announced the completion of the previously announced transaction pursuant to which 10293547 Canada Limited (the "Purchaser"), a wholly-owned indirect subsidiary of CFFI Ventures Inc., has acquired all of the issued and outstanding common shares of BIOX by way of a court approved plan of arrangement under the Canada Business Corporations Act (the "Arrangement").

Under the Arrangement, BIOX shareholders who hold their common shares in registered form will receive payment of $1.23 in cash per common share (other than common shares held by certain shareholders which were exchanged for common shares of the Purchaser) following the deposit of their BIOX share certificates with Computershare Trust Company of Canada, the depositary for the Arrangement, in accordance with the instructions contained in the letter of transmittal previously sent to registered shareholders. Shareholders of BIOX who hold their common shares through a broker or other intermediary should follow the instructions provided by the broker or intermediary in order to receive payment of the consideration for their common shares.

It is expected that the BIOX common shares will be delisted from the Toronto Stock Exchange shortly hereafter. BIOX also intends to apply to cease to be a reporting issuer in the applicable provinces of Canada.

About BIOX Corporation

BIOX is a renewable energy company that owns and operates 287.5 million litres of nameplate biodiesel production capacity at plants located in Houston, Texas and two facilities in southern Ontario. BIOX has an innovative, proprietary and patented production process that is capable of producing the highest quality, renewable, clean burning and biodegradable biodiesel fuel utilizing a variety of feedstocks - from pure seed oils to animal fats to recovered vegetable oils with no change to the production process. BIOX's high quality biodiesel fuel meets North American (ASTM D-6751) quality standards.

Forward-looking Statements

This press release contains forward-looking information within the meaning of applicable securities laws that reflects the current expectations of management of BIOX regarding the delisting of the BIOX common shares and BIOX ceasing to be a reporting issuer. The words "may", "would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "aim", "endeavour", "project", "continue", "predict", "potential", or the negative of these terms or other similar expressions have been used to identify these forward-looking statements.

Forward-looking statements are based upon a number of assumptions and are subject to a number of known and unknown risks and uncertainties, many of which are beyond management's control, and that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking statements. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those expected or estimated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Additional risks and uncertainties regarding BIOX are described in its publicly available disclosure documents, as filed by BIOX on SEDAR (www.sedar.com) except as updated herein. This forward-looking information represents management's views as of the date of this press release. While subsequent events and developments may cause such views to change, BIOX does not intend to update this forward-looking information, except as required by applicable securities laws.

For more information:

Organization:
BIOX Corporation
www.bioxcorp.com

Contact:
Alan Rickard, CEO
BIOX Corporation
Tel: 905-521-8205 ext. 253,
E-mail: arickard@bioxcorp.com


Link http://electricenergyonline.com/detail_news.php?ID=657877
BACK SEND PRINT
Most consulted news
Click here to try the new version of Electric Energy Online!