MONTREAL, Jan. 31, 2017 /CNW Telbec/ - Sofame Technologies Inc. (TSXV: SDW) (OTC: SFMGF) is voluntarily delisting its shares from the TSX Venture Exchange, subject to its application being accepted by the TSXV, and from the OTC pink sheets in the United States. On October 27, 2016, Sofame's common share listing moved to the NEX trading platform, which is a separate board of the TSX Venture Exchange. Sofame has been subject of a general cease trade order since March 31, 2015, due to delays in filing financial statements. The last annual meeting was held on June 17, 2016.
As a private company, Sofame will seek a suitable partner or acquirer in the industrial energy efficiency sector. The ideal partner will leverage Sofame's water heating technology assets to monetize the extensive sales pipeline. The Company must seek the cooperation of its secured lenders to complete such a transaction. The Directors have tendered their resignations effective immediately, stating that the expense and administrative requirements associated with maintaining a public listing are no longer justified. Shareholders will be notified by press release of any new developments.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Sofame Technologies Inc.
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