From SEDAR... Read the bottomTRANSGAMING ANNOUNCES SPECIAL SHAREHOLDER MEETING VOTING RESULTS
TORONTO, CANADA – September 20, 2016 – TransGaming Inc. (TSX-V: TNG) (the
“Company” or “TransGaming”) is pleased to announce the voting results from the
Special Meeting of Shareholders (the “Meeting”) held on September 16, 2016. The
voting results for the Meeting have been filed on on SEDAR at www.sedar.com.
The Company’s shareholders have voted in favour of all items of business at the
Meeting including: (i) a change of business from one focused on the digital distribution
of games for Smart TVs, next-generation set-top boxes and over-the-top devices, to
that of lending to, investing in and financing real estate transactions (the “Proposed
COB”) under the rules of the TSX Venture Exchange (the “TSXV”), (ii) the sale of
TransGaming’s GameTree TV business, (iii) the creation of a new Control Person (as
that term is defined in the polices of the TSXV) in connection with the private
placement by TransGaming of $1,168,125 of subscription receipts to Plazacorp
Holdings Limited, (iv) the election of new directors of the board of directors of the
Company, (v) a consolidation of the common shares of TransGaming by a ratio of up
to 35:1, (vi) a change of the name of the Company to “Findev Inc.”, (vii) the offering by
the Company of mezzanine financing credit facilities to Plazacorp Investments Limited
and/or its affiliated companies, and (viii) certain amendments to the TransGaming
stock option plan. Each item is described in greater detail in the Company’s Notice of
Special Meeting of Shareholders and Management Information Circular (the “Circular”)
dated August 23, 2016, filed on SEDAR at www.sedar.com.
A total of 26,923,614 common shares, approximately 23.05% of the outstanding
common shares, were represented at the Meeting in person or by proxy. The
Proposed COB is subject to final regulatory approval from the TSXV. The common
shares of the Company are expected to remain halted from trading on the TSXV until the closing of the second tranche of the arm’s length brokered private placement, more fully described in the Circular and in the Company’s press release dated September 15, 2016.
Contact:
Ankit Patel
Vice President of Finance
TransGaming Inc.
+1 416 979-9900 x336
ankit.patel@transgaming.com