MONTREAL, April 13, 2023 (GLOBE NEWSWIRE) -- (CSE: EMER) Emergia Inc. (the “Corporation” or “Emergia”) is pleased to announce that all the 4,510,891 Class “B” multivoting common shares were converted on one-to-one basis, to 4,510,891 Class “A” Common shares, effective March 30, 2023.
On April 23, 2018, the Corporation issued shares certificates for a total of 4,510,891 Class B Common Shares (multi-voting shares providing for 100 votes per share). The Class B Common Shares were to be automatically converted, on a one-to-one basis, in Class A Common Shares in March 2023. The conversion of Class B Common shares includes one million shares owned by Emergia’s CEO since 2018. The Corporation had also intervened to Voting Trust Agreement to which the Class B Common Shares holders were party to, and which was in force until the date and time of the conversion of the Class B Common Shares in Class A Common Shares. Hence, the Voting Trust Agreement has been cancelled March 30th at the same time of the conversion of the Class “B” Common Shares in Class “A” Common Shares.
“This is a positive news as all the outstanding shares now have the same voting rights” said Henri Petit, Emergia’s President and CEO.
ABOUT EMERGIA INC.
EMERGIA operates mainly in Canada in the development, acquisition, and management of multi-purpose real estate, including retail, multifamily, industrial, and office buildings as well as land for future development. The Corporation’s investment platform is based on an integrated, agile and efficient develop-to-own strategy that enables EMERGIA to benefit from development profits and the value-add while securing stable long-term returns.
For more information, please visit www.emergia.com and www.sedar.com. EMER.CN
Source: Emergia Inc.
For more Information, please contact:
Henri Petit
CEO
T: 1.888.520.1414 (Ext. 231)
E: hpetit@emergia.com
Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of historical facts contained in this press release are forward-looking information. Such statements and information may be identified by looking for words such as “about”, “approximately”, “may”, “believes”, “expects”, “will”, “intend”, “should”, “plan”, “predict”, “potential”, “project”, “anticipate”, “estimate”, “continue” or similar words or the negative thereof or other comparable terminology. Such forward-looking information includes, without limitation, statements with respect to the effect of the COVID-19 pandemic and of the Russia-Ukraine war on the Corporation’s financial condition, the anticipated closing of the Private Placement, business strategy and plans, and objectives of or involving the Corporation. The forward-looking information is based on certain key expectations and assumptions made by the Corporation, including expectations and assumptions concerning satisfaction of all conditions of closing, absence of exercise of any termination right and the timing and receipt of regulatory approval with respect to the Private Placement and the issuance of the private placement shares and the availability of capital resources. Although the Corporation believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information since no assurance can be given that they will prove to be correct. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the effect of the COVID-19 pandemic or the Russia-Ukraine war on the Corporation’s financial condition, the real estate industry, and society as a whole. the market for the common shares, volatility of market price for common shares and other risks generally attributable to the business of the Corporation. For additional information with respect to risks and uncertainties, refer to the annual MD&A of the Corporation for the year ended December 31, 2021 filed on SEDAR at www. sedar.com.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE CORPORATION AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE CORPORATION MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.
