TORONTO, June 12, 2024 (GLOBE NEWSWIRE) -- Universal PropTech Inc. ("UPI" or the "Company", TSXV: UPI.H) announces that the common shares of the Company are expected to be voluntarily delisted from the NEX board of the TSX Venture Exchange (the "TSXV") after markets close on June 13, 2024 (the "Delisting"). The Delisting was approved by the TSXV and by a majority of the shareholders of the Company, excluding the votes attaching to the common shares held by certain excluded persons pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.
As announced in the Company's news release of June 10, 2024, the Delisting is being conducted in connection with the previously announced business combination between the UPI and Xemoto Media Ltd. ("Xemoto"). UPI and Xemoto have received conditional approval from the Canadian Securities Exchange (the "CSE") to list the common shares of the issuer which will be formed upon completion of Business Combination, to be named "BrandPilot AI Inc." (the "Resulting Issuer"). Listing of the Resulting Issuer's shares is subject to completion of the business combination and the satisfaction of all conditions of the CSE, including completion of outstanding CSE application documentation and payment of fees pursuant to the CSE's policies.
About Universal PropTech Inc.
Universal PropTech Inc. (TSXV: UPI.H) is a TSX Venture Exchange listed company focused on evaluating acquisition opportunities in order to enhance shareholder value.
About Xemoto Media Ltd.
Xemoto is an influencer marketing platform focused on helping publicly traded companies and businesses in highly regulated and complex industries better connect with customers. Its proprietary digital technology is uniquely designed to engage investor, business-to-business, and business-to-consumer audiences.
Xemoto's easy-to-navigate automated platform, data-driven insights and commitment to agility ensures that clients can not only execute campaigns quickly but evaluate results efficiently through real-time insights into campaign performance.
Xemoto uses best practices to create brand-safe content with compliance-savvy creators to deliver a strong return on investment for its customers.
Learn more at: , LinkedIn, Instagram, TikTok, and Twitter.
UPI Contact:
Jeff Berman
President and Chief Executive Officer
jberman@universalproptech.com
416-777-6170
Xemoto Contact:
Brandon Mina
Chief Executive Officer
+1-519-239-6460
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. The securities of the Company and Xemoto have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws unless pursuant to an exemption from such registration.
Forward Looking Statements
Certain information provided in this press release, including the effective date of the Delisting and the listing of the Resulting Issuer on the CSE constitutes forward-looking statements and information within the meaning of applicable securities laws. Forward-looking information typically contains statements with words such as "anticipate", "believe", "forecast", expect", "plan", "intend", "estimate", "propose", "project", or similar words suggesting future outcomes. The Company cautions readers and prospective investors in the Company's securities not to place undue reliance on forward-looking information as, by its nature, it is based on current expectations regarding future events that involve a number of assumptions, inherent risks and uncertainties, which could cause actual results to differ materially from those anticipated by the Company. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things the risks that: the Delisting and the listing of the Resulting Issuer's shares on the CSE are not completed as described in this news release.
The forward-looking information included herein is expressly qualified in its entirety by this cautionary statement. The forward-looking information included herein is made as of the date hereof and the Company assumes no obligation to update or revise any forward-looking information to reflect new events or circumstances, except as required by law.
Neither the TSXV, nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.