TSXV:IMEX.H - Post by User
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ibuyonlyepson Nov 05, 2018 4:21pm
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News: Imex Systems' CTO lifted by BCSC
News: Imex Systems' CTO lifted by BCSC
Imex Systems' CTO lifted by BCSC
2018-11-05 07:27 MT - News Release
Mr. Rob Klein reports
IMEX SYSTEMS - UPDATE ON BRITISH COLUMBIA SECURITIES COMMISSION MATTER
Further to Imex Systems Inc.'s press release on Oct. 19, 2018, on Friday, Nov. 2, 2018, a panel of commissioners of the British Columbia Securities Commission issued its decision on the company's $2-million private placement completed in July, 2018. The panel decided as follows: "Having considered all of the submissions on the appropriate orders, if any, in the circumstances, the panel, despite finding that the TSX-V should have required a shareholder vote before approving the private placement, declines to make any further orders in this proceeding. In the specific circumstances of this case, the panel considers that the actual and potential adverse consequences to the public interest of making any of the orders requested by the Arapakota parties (or any alternative orders) outweigh the actual and potential benefits to the public interest of making any orders."
In addition, the temporary cease trade order previously imposed on the shares of the company issued in connection with the private placement has now been revoked.
About Imex Systems Inc.
Imex Systems is a Canadian software products and solution provider to governments, municipalities and public authorities in Canada and internationally. Imex Systems primarily focuses on e-government and the smart cities market that also include the integration to payment processing. The company helps public sector entities to provide "any time, anywhere, any device and any channel" convenience for citizens to access government services and help with digital transformation of government operations and streamline revenue.
We seek Safe Harbor.
Imex Systems' CTO lifted by BCSC
2018-11-05 07:27 MT - News Release
Mr. Rob Klein reports
IMEX SYSTEMS - UPDATE ON BRITISH COLUMBIA SECURITIES COMMISSION MATTER
Further to Imex Systems Inc.'s press release on Oct. 19, 2018, on Friday, Nov. 2, 2018, a panel of commissioners of the British Columbia Securities Commission issued its decision on the company's $2-million private placement completed in July, 2018. The panel decided as follows: "Having considered all of the submissions on the appropriate orders, if any, in the circumstances, the panel, despite finding that the TSX-V should have required a shareholder vote before approving the private placement, declines to make any further orders in this proceeding. In the specific circumstances of this case, the panel considers that the actual and potential adverse consequences to the public interest of making any of the orders requested by the Arapakota parties (or any alternative orders) outweigh the actual and potential benefits to the public interest of making any orders."
In addition, the temporary cease trade order previously imposed on the shares of the company issued in connection with the private placement has now been revoked.
About Imex Systems Inc.
Imex Systems is a Canadian software products and solution provider to governments, municipalities and public authorities in Canada and internationally. Imex Systems primarily focuses on e-government and the smart cities market that also include the integration to payment processing. The company helps public sector entities to provide "any time, anywhere, any device and any channel" convenience for citizens to access government services and help with digital transformation of government operations and streamline revenue.
We seek Safe Harbor.