HyperBlock and CryptoGlobal Receive Court Approval for Acquisition

Blockchain Investing

CryptoGlobal (TSXV:CPTO) has announced it has been granted final court approval from the Ontario Superior Court of Justice for the proposed acquisition of CryptoGlobal by HyperBlock. As quoted in the press release: Under the terms of the acquisition agreement, HyperBlock will acquire all of the common shares of CryptoGlobal by way of a court approved plan …

CryptoGlobal (TSXV:CPTO) has announced it has been granted final court approval from the Ontario Superior Court of Justice for the proposed acquisition of CryptoGlobal by HyperBlock.

As quoted in the press release:

Under the terms of the acquisition agreement, HyperBlock will acquire all of the common shares of CryptoGlobal by way of a court approved plan of arrangement (the “Arrangement”) under the Business Corporations Act (Ontario). As previously announced by CryptoGlobal, all requisite shareholder approvals of the Arrangement were received at the annual and special meeting of shareholders of CryptoGlobal, and at the special meeting of shareholders of HyperBlock, each held on June 22, 2018.
Further details regarding the Arrangement are set out in the joint management information circular of HyperBlock and CryptoGlobal dated May 22, 2018 (the “Circular”), which is available under CryptoGlobal’s issuer profile on SEDAR at www.sedar.com. Completion of the Arrangement is subject to, among other things, receiving stock exchange approvals, and the satisfaction of other customary conditions for a transaction of this nature.