QHR could be an acquirer......
Nightingale Announces Update on Strategic Review Process and Proposed Transaction
MARKHAM, ON, June 22, 2016 /CNW/ - Nightingale Informatix Corporation ("Nightingale" or the "Company") (TSX-V: NGH), wishes to provide the following update on its previously announced strategic review process originally disclosed on February 29, 2016 (the "Process"). The Process was initiated by the independent members of the Board and was intended to examine alternatives to enhance shareholder value, including a sale of all or a portion of the existing business, as well as various financing and recapitalization alternatives. In this regard the Board engaged financial and legal advisors to assist it in implementing the Process. A number of alternatives were explored and the Board has concluded that shareholder value would best be enhanced by concluding a sale of assets comprising substantially all of the Canadian business. As a result of this process, the Company has been in discussions with potential acquirers with the intention of concluding a definitive agreement in respect of a transaction (the "Proposed Transaction") as soon as possible. There is no assurance that such agreement will be concluded or that the Proposed Transaction will proceed as currently contemplated or at all.
The terms of the Proposed Transaction, if agreed to, will be set forth in a definitive acquisition agreement and closing of the Proposed Transaction will be subject to the satisfaction of closing conditions in such agreement, which will include TSX Venture Exchange and shareholder approval.
The Company shall provide further updates to shareholders as to the status of its strategic review process and the Proposed Transaction when available.