Source: Wellteq
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • wellteq Digital Health (WTEQ) has completed its plan of arrangement with Advanced Human Imaging Ltd. (AHI)
  • AHI acquired all of the outstanding common shares of wellteq by way of a court-approved plan of arrangement
  • wellteq shareholders are entitled to receive one share of AHI for every six WellteQ shares
  • wellteq shares will be delisted from the Canadian Securities Exchange
  • Wellteq Digital Health Inc. (WTEQ) is unchanged on the day, trading at C$0.02 per share at 10:45 am ET

wellteq Digital Health (WTEQ) has completed its plan of arrangement with Advanced Human Imaging Ltd. (AHI).

Under the previously announced arrangement, AHI acquired all of the outstanding common shares of wellteq by way of a court-approved plan of arrangement. wellteq confirms that Scott Montgomery, the CEO and a director of WellteQ, was appointed as the CEO and Executive Director of AHI, and Peter Vaughan, Chair of the wellteq board of directors, was appointed as a non-executive director of AHI.

wellteq shareholders are entitled to receive one share of AHI for every six wellteq shares previously held. Registered wellteq shareholders are reminded to complete, sign and return the letter of transmittal provided with the materials for the special meeting of wellteq shareholders held on November 24, 2022, together with the certificate(s)/DRS advice(s) representing their WellteQ shares as indicated in the letter of transmittal. Non-registered or beneficial WellteQ shareholders who hold their shares through a broker, investment dealer, nominee or other intermediary or depository should contact their Intermediary for instructions and assistance in depositing their WellteQ shares and receiving their consideration shares and to confirm if their Intermediary has made arrangements for their Consideration Shares to be deposited into CHESS.

As previously-announced, the Plan of Arrangement had previously been approved by the wellteq shareholders. The Supreme Court of British Columbia issued a final order approving the Arrangement on November 30, 2022.  intends to apply to have the WellteQ shares delisted from the Canadian Securities Exchange and to cease to be a reporting issuer.

Advanced Human Imaging Ltd. has developed and patented a proprietary dimensioning technology that enables users to check, track, and assess their dimensions and body composition using only a smartphone privately and accurately.

wellteq Digital Health Inc. is a digital health provider.

wellteq Digital Health Inc. (WTEQ) is unchanged on the day, trading at C$0.02 per share at 10:45 am ET.


More From The Market Herald

" @ the Bell: Growth-sensitive stocks fluctuate on mega jobs report

Canada’s main stock index ended on the higher side of flat on Friday trading as strength in the energy and technology sectors was weighed against

" Aimia (TSX:AIM) sells $7.36M in shares to Mithaq Capital

Aimia (AIM) has sold approximately $7.36 million of its common shares to investor company Mithaq Capital SPC.

" Terra Firma Capital (TSXV:TII) appoints new board member

Terra Firma Capital (TII) appoints Mike Kirchmair as a member of the corporation’s board of directors.
Capital Power Corporation - The Whitla Wind Facility

" Capital Power (TSX:CPX) looks forward to protecting the environment

Capital Power Corporation (CPX) enters a 23-year clean electricity supply agreement with Public Services and Procurement Canada to protect the environment.