TORONTO, Dec. 18, 2018 /CNW/ - Symbility Solutions Inc. ("Symbility") (TSXV: SY) announced that CoreLogic, Inc. ("CoreLogic") (NYSE: CLGX), through its indirect wholly owned subsidiary, 2154638 Alberta Ltd., has completed the acquisition of all of the issued and outstanding common shares of Symbility not already owned by it or its affiliates for a purchase price of $0.615 per common share. The acquisition took place by way of a plan of arrangement under Section 193 of the Business Corporations Act (Alberta) (the "Arrangement"), which was approved by the Court of Queen's Bench of Alberta on December 17, 2018. As a result of the Arrangement, Symbility is now an indirect wholly-owned subsidiary of CoreLogic.
Trading of Symbility's common shares is expected to be halted until they are delisted from the TSX Venture Exchange on or about December 20, 2018. Symbility will also submit an application to cease to be a reporting issuer under the securities laws of the applicable provinces of Canada.
Symbility believes in creating world-class experiences that simplify business and improve lives. With a history in modernizing insurance claims solutions for the property and health industries, Symbility has established itself as a partner that puts security, efficiency and customer experience first. Symbility PROPERTY™ brings smarter thinking to property insurance. Our strategic services team, Symbility INTERSECT™ empowers a variety of businesses with smarter mobile and IoT product development strategy, design thinking and engineering excellence. We push industries forward and prove that change for the better is entirely possible. For more information, please visit www.symbilitysolutions.com.
LEGAL NOTICE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" about the Arrangement within the meaning of applicable Canadian securities legislation. These forwarding-looking statements in this news release are related to, but are not limited to, matters with respect to the timing and completion of the post-closing matters related to the Arrangement. Forward-looking statements typically contain statements with words such as "expect," "anticipate," "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "strive", "will", "may" and "should" and similar expressions.
Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect Symbility's expectations only as of the date of this news release. Symbility disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.
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.
All trade names are the property of their respective owners.
SOURCE Symbility Solutions Inc.
For further information: MEDIA CONTACTS: James R. Swayze, chief executive officer, (647) 775- 8603, [email protected]; Blair R. Baxter, chief financial officer, (647) 775-8608, [email protected]; Lucy De Oliveira, vp, global marketing, (647) 775-8607, [email protected]