The Transaction required approval by: (i) two-thirds of the votes cast by Shareholders (the "Special Resolution"); and (ii) a simple majority of the votes cast by minority Shareholders, being all Shareholders other than
On the Special Resolution, a total of 27,060,141 Common Shares were voted in favour of the Transaction, representing approximately 97.8% of the votes cast on the Special Resolution. On the Minority Vote, a total of 11,416,835 Common Shares were voted in favour of the Transaction, representing approximately 95.0% of the votes cast by minority Shareholders.
Final Order
The Company intends to seek a final order of the
Subject to receipt of the Final Approval and the satisfaction of other customary conditions, the Transaction is expected to close prior to the end of 2022.
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain statements included in this news release constitute "forward-looking information" as defined under applicable Canadian securities legislation. The words "will", "intends", "expects" and similar expressions are intended to identify forward-looking information, although not all forward-looking information will contain these identifying words. Specific forward-looking information contained in this news release includes but is not limited to statements regarding: the timing and receipt of the Final Approval; and the closing of the Transaction, including the anticipated timing for such closing. These statements are based on factors and assumptions related to historical trends, current conditions and expected future developments. Since forward-looking information relates to future events and conditions, by its very nature it requires making assumptions and involves inherent risks and uncertainties. TAAL cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from expectations. Material risk factors include the future acceptance of Bitcoin SV and other digital assets and risks related to information processing using those platforms, the ability for TAAL to leverage intellectual property into viable income streams and other risks set out in TAAL's Annual Information Form dated
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