Ivernia on Track for Acquisition and Debt Conversion

Ivernia Inc. (TSX:IVW) announced that it’s on track to both close its acquisition of Geo Zone Exploration Ltd. and convert about C$12.464 million of debt owed to Enirgi Group Corp.; both events are set to take place on November 13, 2015.
As quoted in the press release:

At the special meeting of Ivernia shareholders (the “Meeting”) held on October 28, 2015, shareholders showed overwhelming support and voted over 99% in favor of all matters, which included approving the Transaction, changing the Company’s name to LEADFX INC. and consolidating the Company’s issued and outstanding common shares. Geo Zone shareholders previously voted unanimously in favor of Geo Zone being acquired by Ivernia at a special meeting held on October 8, 2015.
The Ivernia share consolidation — in a ratio of 75:1 — and name change are expected to be made effective in the week following the closing of the Transaction, subject to final regulatory approvals. A further announcement will be made in connection with the timing of these changes.

Click here to read the full Ivernia Inc. (TSX:IVW) press release.