Intercap Inc. Completes the Compulsory Acquisition of Remaining Common Shares of ZipLocal Inc.
TORONTO, Aug. 22, 2017 /CNW/ - Intercap Inc. ("Intercap") and ZipLocal Inc. ("ZipLocal") announce that Intercap has acquired all of the outstanding common shares of ZipLocal ("ZipLocal Share") not acquired under Intercap's take-over bid made on May 19, 2017 pursuant to the compulsory acquisition provisions of the Business Corporations Act (Ontario). Intercap and its associates own 30,431,250 ZipLocal Shares, representing 100% of the issued and outstanding ZipLocal Shares.
With the completion of the compulsory acquisition, the ZipLocal Shares have been de-listed from the NEX Board of the TSX Venture Exchange as of the close of trading on August 18, 2017 and ZipLocal has ceased to be a reporting issuer under Canadian securities laws as of August 21, 2017.
SOURCE ZipLocal Inc.
For further information: Jason Chapnik, President, Intercap Inc., 416.943.0808