TORONTO, April 2, 2015 /CNW/ - Wheels Group Inc. ("Wheels") (TSXV: WGI) is pleased to announce that it has completed its previously announced proposed arrangement (the "Arrangement") with Radiant Logistics, Inc. ("Radiant") (NYSE MKT: RLGT) and its wholly-owned subsidiary, Radiant Global Logistics Ltd. (the "Purchaser").
Pursuant to the Arrangement, the Purchaser acquired all of the issued and outstanding common shares of Wheels (the "Wheels Shares") by way of the Arrangement.
With the completion of the Arrangement, the Wheels Shares are expected to be de-listed from the TSX Venture Exchange as soon as practicable following the date hereof.
In order to receive the consideration in exchange for their Wheels Shares registered shareholders must complete, sign, date and return the Letter of Transmittal and Election Form that was mailed to each registered shareholder of Wheels. The Letter of Transmittal and Election Form is also available from Wheels' depositary, Equity Financial Trust Company, by telephone at 1 (866) 393-4891 (North American Toll Free).
Non-registered holders of Wheels Shares whose Wheels Shares are registered in the name of a broker, investment dealer, bank, trust company, trustee or other intermediary or nominee should contact that intermediary or nominee for assistance in depositing their Wheels Shares and should follow instructions of such intermediary or nominee in order to deposit their Wheels Shares.
Further information about the Arrangement is set out in the Wheels' management information circular dated February 24, 2015 which can be accessed online under Wheels' issuer profile on SEDAR at www.sedar.com.
About Wheels Group Inc.
Founded in 1988, Wheels is a leading North American third party supply chain logistics ("3PL") provider. As a non-asset provider, Wheels develops advanced supply chain solutions delivered through its qualified partner network of over 6,000 truck, rail, air and ocean carriers. Wheels serves consumer goods, food and beverage, manufacturing and retail clients through 18 offices throughout the United States and Canada. Wheels has been named one of Canada's Best Managed Companies since 1997, Platinum since 2003, one of North America's Top 100 3PL Companies and one of the Top 100 Food 3PLs.
About Radiant Logistics, Inc.
Radiant (www.radiantdelivers.com) is a non-asset based transportation and logistics company providing domestic and international freight forwarding services and an expanding array of value-added solutions, including customs and property brokerage, order fulfillment, inventory management and warehousing. Radiant operates through a network of company-owned and independent agent offices across North America under the Radiant, Airgroup, Adcom, DBA and On Time network brands servicing a diversified account base, including manufacturers, distributors and retailers using a network of independent carriers and international agents positioned strategically around the world.
This press release contains forward-looking statements (including "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995).
None of the common shares of Radiant to be issued by Radiant pursuant to the Arrangement have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issued in the Arrangement are anticipated to be issued in reliance upon the exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
Neither the TSX Venture, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE Wheels Group Inc.
For further information: Ted Irwin, Chief Financial Officer, Tel: (905) 602-2700, www.wheelsgroup.com; Patrick J. Marshall, Investor Relations, Tel: (905) 602-2700, www.wheelsgroup.com