TPS and Tao - Completion of Amalgamation
Whitehorse, Canada (FSCwire) - Turbo Power Systems Inc.
("TPS" or the "Corporation") is pleased to announce that it has completed the previously
announced amalgamation (the "Amalgamation") with 536348 Yukon Inc. (the "Purchaser"), a
wholly-owned subsidiary of Tao Sustainable Power Solutions (UK) Ltd. ("Tao"), under the provisions of the
Business Corporations Act (Yukon) to form an amalgamated company under the name "Turbo Power Systems Inc."
("Amalco").
The Amalgamation was approved by the shareholders of TPS at a special meeting of shareholders of the Corporation
held on November 22, 2017 and is further described in the Management Information Circular of the Corporation dated October 10,
2017, which is available under the Corporation's SEDAR profile at www.sedar.com.
Under the Amalgamation, common shares of the Corporation held by minority shareholders (other than Tao and its
affiliates) were exchanged for redeemable preferred shares of Amalco and immediately redeemed for a redemption price of £0.0002
per share; common shares of the Corporation held by Tao and its affiliates were exchanged for common shares of Amalco; and common
shares of the Purchaser were exchanged for common shares of Amalco. As a result, upon completion of the Amalgamation and
redemption, all of the common shares of Amalco are held by Tao and TWC3N Limited ("TWC3N").
It is expected that Amalco will be dissolved on or about November 29, 2017.
Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/4772X_1-2017-11-24.pdf
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/turbopower11242017.pdf
Source: Turbo Power Systems Inc. (AIM:TPS, OTC Bulletin Board:TPSSF)
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