Posted on June 16, 2016
NOVRA TECHNOLOGIES INC. AND INTERNATIONAL DATACASTING CORPORATION ANNOUNCE Closing of Merger
Winnipeg, MB – June 15, 2016 – Further to International Datacasting Corporation’s (“IDC”) (TSX-V: IDC) shareholder approval of the merger announced in a press release dated May 30, 2016, Novra Technologies Inc. (“Novra”) (TSX-V: NVI) and IDC announced that all conditions of closing have been met and the agreement to merge the two companies was successfully closed today. IDC will continue to operate, now as a wholly owned subsidiary of Novra. IDC will file a request that their shares be delisted.
Investors and security holders of IDC and Novra should refer to SEDAR (www.sedar.com) for merger-related documents and the following related prior press releases:
IDC: April 19, 25, and 30, 2016
Novra: April 19, 2016
Harris Liontas, President & CEO of Novra, commented “This merger positions Novra extremely well to continue serving current customers and to address new and expanding markets with a broad suite of industry-leading products. It also sets the stage for execution of Novra’s previously announced intentions to acquire two other respected companies within the same and adjacent markets.”
About Novra Technologies Inc.:
Novra Technologies Inc. (TSX-V: NVI) offers premium products and solutions to datacasting and digital signage markets. Novra specializes in the transmission and reception of IP traffic over satellite, cable and terrestrial communication links. Products offered include broadband receivers for DVB-S, DVB-S2, and ATSC systems. Novra's IPE encapsulator products can be used in both DVB and ATSC MPEG2 systems for datacasting as well as broadband access applications. The NovraLink digital signage solution integrates Novra's technologies into a comprehensive multimedia management and distribution system. For more information visit: www.novra.com.
About International Datacasting Corporation:
International Datacasting Corporation (TSX-V: IDC) is a global technology provider for the world’s premiere broadcasters in radio, television, data and digital cinema. IDC’s products and solutions are in demand for radio and television networks, targeted ad insertion, digital cinema, 3D live events, VOD, and IPTV. IDC is headquartered in Ottawa, Canada. For more information visit: www.datacast.com.
This press release contains certain information that may constitute “forward-looking information” and/or “forward-looking statements” within the meaning of applicable Canadian securities laws including, without limitation, statements with respect to the timing and completion of the merger with Novra. All forward-looking information and forward-looking statements are necessarily based on a number of estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies.
All statements other than statements which are reporting results as well as statements of historical fact are forward-looking statements that may involve a number of known and unknown risks, uncertainties and other factors; many of which are beyond the ability of IDC or Novra to control or predict.
Forward-looking statements are generally identifiable by use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “design”, “plan or “project” or the negative of these words or other variations on these words or comparable terminology. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
President & CEO
Novra Technologies Inc.
+1 204 989 4632