AgJunction Inc. Completes Plan of Arrangement
07 Dezembro 2021 - 3:10PM
AgJunction Inc. (TSX: AJX) ("
AgJunction" or the
"
Corporation") is pleased to announce that it has
completed its previously announced plan of arrangement (the
"
Arrangement") pursuant to which, among other
things, Kubota Canada Ltd. (the “
Purchaser”), a
wholly-owned subsidiary of Kubota Corporation, acquired all the
issued and outstanding common shares of AgJunction
("
AgJunction Shares") for cash consideration of
CAD $0.75 per AgJunction Share. The AgJunction Shares are expected
to be delisted from the Toronto Stock Exchange within two business
days. AgJunction will also apply to cease to be a reporting issuer
in all provinces of Canada. Further details regarding the
Arrangement are included in AgJunction's information circular and
proxy statement dated October 21, 2021, a copy of which is
available under AgJunction's profile on SEDAR at www.sedar.com.
Required Early Warning Report
Information Following completion of the Arrangement, the
Purchaser will have beneficial ownership and control over 100% of
the issued and outstanding AgJunction Shares. Prior to the
Arrangement, the Purchaser held no AgJunction Shares. The head
address of the Purchaser is 5900 14th Avenue Markham, Ontario L3S
4K4.
This press release is being issued, in part,
pursuant to National Instrument 62-103 – The Early Warning System
and Related Take-Over Bid and Insider Reporting Issues which
requires a report to be filed under AgJunction’s profile on SEDAR
at www.sedar.com containing additional information respecting the
foregoing matters. You may also contact Cody Slach or Cody Cree at
1-949-574-3862 to obtain a copy of the report.
About AgJunctionAgJunction is a
global leader of advanced guidance and autosteering solutions for
precision agriculture applications. Its technologies are critical
components in over 30 of the world’s leading precision Ag
manufacturers and solution providers and it owns or licenses over
200 patents and patents pending. AgJunction markets its solutions
under leading brand names including Novariant®, Wheelman®, Whirl™
and Handsfreefarm® and is committed to advancing its vision by
bringing affordable hands-free farming to every farm, regardless of
terrain or size. AgJunction is headquartered in Scottsdale,
Arizona. For more information, visit www.agjunction.com.
About Kubota CorporationFounded
in 1890, Kubota Corporation is a global leading manufacturer of
agricultural, turf, construction equipment and industrial engine.
With its global headquarters in Japan, and footprint in more than
120 countries throughout North America, Europe and Asia, Kubota has
worked closely with farmers to develop agricultural machinery with
the aim to accelerate innovation to solve issues related to food,
water, and the environment. Although agricultural equipment is
Kubota’s primary line of products, Kubota also produces a diverse
portfolio of other products including pipe-related products,
environment-related products, and social infrastructure-related
products to contribute to improve human lives and society. Kubota
is listed on the Tokyo Stock Exchange under the symbol "6326". For
more information, please go to www.kubota.com.
Forward-Looking StatementsThis
press release contains forward-looking information and
forward-looking statements (collectively, "forward-looking
information") within the meaning of applicable securities laws and
is based on the expectations, estimates and projections of
management of AgJunction as of the date of this news release,
unless otherwise stated. The use of any of the words "expect",
"anticipate", "continue", "estimate", "objective", "ongoing",
"may", "will", "project", "should", "believe", "plans", "intends"
and similar expressions are intended to identify forward-looking
information. These statements are only predictions and actual
events or results may differ materially. Although the Corporation’s
management believes that the expectations reflected in the
forward-looking statements are reasonable, it cannot guarantee
future results, performance or achievement since such expectations
are inherently subject to significant business, economic,
competitive and political uncertainties and contingencies.
Accordingly, readers should not place undue reliance on
forward-looking information contained in this press release.
In respect of the forward-looking information,
AgJunction has provided such information in reliance on certain
assumptions that it believes are reasonable at this time,
including, but not limited to, the timing for delisting of the
AgJunction Shares from the TSX and the applications to cease to be
a reporting issuer in all provinces of Canada.
The forward-looking information contained in
this press release is made as of the date hereof and AgJunction
undertakes no obligation to update publicly or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, unless so required by
applicable securities laws.
Media RelationsEmail:
press@agjunction.com
Investor Relations Gateway Investor
RelationsCody Slach or Cody CreeE-mail:
AJX@gatewayir.com Phone: 1-949-574-3862