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THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
TORONTO, May 17, 2021 (GLOBE NEWSWIRE) -- Quisitive Technology Solutions, Inc. ("Quisitive" or the “Company”) (TSXV: QUIS), a premier Microsoft Cloud Services and Payments Solutions Provider, announced that it has elected to accelerate the expiry date of the common share purchase warrants issued on June 26, 2020 (the "Warrants") under the warrant indenture between Computershare Trust Company of Canada (the "Warrant Agent") and the Company dated June 26, 2020 (the "Warrant Indenture").
As described in Quisitive’s prospectus supplement (the "Prospectus Supplement") dated June 19, 2020, Quisitive's short form base shelf prospectus dated June 12, 2020, and pursuant to the terms of the Warrant Indenture, if the volume weighted average trading price of the Company’s common shares (the “Common Shares”) on the TSX Venture Exchange (the "TSXV") exceeds $1.60 for a period of 10 consecutive trading days (the "Acceleration Trigger"), the Company is entitled to accelerate the expiry date of the Warrants to the date that is not less than 30 days following the date notice of such acceleration (the "Acceleration Notice") is delivered to holders of Warrants. The Company will deliver the Acceleration Notice to holders of Warrants indicating the Company's election to accelerate the expiry date of the Warrants to June 16, 2021 (the "Accelerated Expiry Date"). The Warrants, which are currently listed and posted for trading on the TSXV under the ticker symbol "QUIS.WT" will be delisted from the TSXV after the Accelerated Expiry Date.
ANY WARRANTS THAT HAVE NOT BEEN EXERCISED BY 4:30 P.M. (VANCOUVER TIME) ON JUNE 16, 2021 WILL AUTOMATICALLY BE CANCELLED.
Each whole Warrant entitles the holder to purchase one Common Share at a price of $1.10. If all Warrants are exercised, including previously exercised Warrants and any Warrants issuable pursuant to the exercise of outstanding compensation options issued on June 19, 2020, proceeds to the Company will total approximately $12.4 million, however, there can be no assurance that any additional Warrants will be exercised prior to the Accelerated Expiry Date. Holders of Warrants who wish to exercise their Warrants should review the exercise requirements contained in the Acceleration Notice, the Warrant Indenture and, if applicable, the certificate evidencing their Warrants, and contact their legal and investment advisors before submitting the exercise form and any other applicable documentation to the Warrant Agent. The contact details for the Warrant Agent is Computershare Trust Company of Canada, 3rd Floor, 510 Burrard Street, Vancouver, British Columbia V6C 3B9 Attn: General Manager, Corporate Trust, e-mail: firstname.lastname@example.org.
Quisitive (TSXV: QUIS) is a premier, global Microsoft partner that harnesses the Microsoft platform and complementary technologies, including custom solutions and first-party offerings, to generate transformational impact for enterprise customers. Our Cloud Solutions business focuses on helping enterprises move, operate, and innovate in the three Microsoft clouds. Centering on our LedgerPay product suite, our Payments Solutions business leverages the Microsoft Azure cloud to transform the payment processing industry into an entirely new source of customer engagement and consumer value. Quisitive serves clients globally from ten employee hubs across the world. For more information, visit www.quisitive.com and follow @BeQuisitive.
Quisitive Investor Contact
Matt Glover and John Yi
Gateway Investor Relations
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