Peeks Social Shareholders Approve Personas Transaction

Peeks Social (TSXV:PEEK), a company that deals with the development of social media and social commerce products and services for use by consumers and businesses with focus on mobile products announced that an annual and special meeting of shareholders was held on April 18.

The company said that the meeting was held for the purposes of approving the amalgamation transaction with personas.com corporation along with other matters.

As quoted in the press release:

The Company is very pleased to report the results were as follows:

APPROVING THE AMALGAMATION OF PEEKS SUBCO WITH PERSONAS.COM CORPORATION

FOR – 95.96%
AGAINST – 4.04%

The transaction also received minority shareholder approval at the Meeting in accordance with National Instrument 61-101 “Protection of Minority Security Holders in Special Transaction”.

Personas is holding a meeting of its shareholders on May 1, 2018, to also approve the transaction. The Company anticipates closing the transaction immediately following the Personas shareholders meeting subject to a favourable vote by Personas shareholders.

The Company is also pleased to report that Mark Itwaru, William Lavin, Vincent McLeod, Fareed Amin, and Jim Westlake were re-elected as directors of the Company at the Meeting and Jasmine Ganie-Hobbs was elected as a new director.

Shareholders approved all other items of business put forth at the Meeting.

The Company also announced that further to its press release dated March 29, 2018, it has received the acceptance of the TSX Venture Exchange to extend the expiry date of outstanding warrants exercisable to purchase 7,200,000 common shares (the “Warrants”). Of the 7,200,000 Warrants, 3,338,498 were issued on April 12, 2017 (including 555,555 held by Mark Itwaru, CEO of the Company), and 3,861,502 were issued on April 28, 2017. The Warrants are exercisable at a $1.10 per common share on a one-for-one basis and had an original expiry date of one year from the date of grant. The new expiry dates of the Warrants are October 12, 2019, and October 28, 2019, respectively. All other terms and conditions of the Warrants remain unchanged.

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