QUEBEC, Nov. 28, 2013 /CNW Telbec/ - Desjardins Venture Capital L.P. ("Desjardins Venture Capital") and Desjardins-Innovatech L.P. ("Desjardins-Innovatech"), both limited partnerships of which Desjardins Venture Capital Inc. is the general partner, announced today that they have entered into a bought-deal letter (the "Bought-Deal Letter") with GMP Securities L.P. and Desjardins Securities Inc. (the "Underwriters") pursuant to which the Underwriters have agreed to purchase, on a "bought-deal" basis, all of the common shares of Wanted Technologies Corporation (the "Common Shares") held by Desjardins Venture Capital and Desjardins-Innovatech (the "Secondary Sale"), representing approximately 37.44% of currently outstanding Common Shares.
As part of the Secondary Sale, and pursuant to the terms of the Bought-Deal Letter, the Underwriters will purchase and resell, on a private placement basis, (i) 5,513,252 Common Shares held by Desjardins-Innovatech, and (ii) 3,478,006 Common Shares held by Desjardins Venture Capital, representing all the Common Shares held by Desjardins-Innovatech and Desjardins Venture Capital.
Following the closing of the Secondary Sale, Desjardins-Innovatech and Desjardins Venture Capital will no longer hold any Common Shares.
Closing of the Secondary Sale is expected to occur on or about December 11, 2013, subject to customary closing conditions.
About Desjardins Venture Capital Inc.
Desjardins Venture Capital inc. manages the assets of several funds, including Desjardins Venture Capital L.P. and Desjardins - Innovatech L.P. More than a financial partner, we provide capital, business network and expertise to assist companies and cooperatives in their growth, expansion, mergers, acquisitions or IPO.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: Desjardins Venture Capital
For further information:
Desjardins Venture Capital Inc.
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Montreal, Quebec, H5B 1B8