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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Karel Capital Corp. | TSXV:KRL.P | TSX Venture | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.00 | - |
Karel Capital Corporation ("Karel" or the "Company") (TSX VENTURE:KRL.P), a capital pool company, and Preo Software Inc. ("Preo") (CNSX:PKM) announce the TSX Venture Exchange Inc. (the "Exchange") has granted conditional acceptance to Karel's Qualifying Transaction (the "QT") pursuant to the Exchange Policy 2.4 (the "Policy"), being the proposed arm's length amalgamation of Karel and Preo pursuant to the Business Corporations Act (Alberta) (the "Amalgamation"). All capitalized terms have the same meanings as defined in the Joint Management Information Circular of the Company and Preo dated May 3, 2010 which can be found on SEDAR at www.sedar.com. Additionally, Karel and Preo announce their respective shareholders have approved the Amalgamation at their respective Annual Special and General Meetings held on May 31, 2010. The closing date of the Amalgamation (the "Closing Date") is subject to the closing of the short form offering financing (which has not occurred to date) as described in the parties joint announcement dated May 5, 2010. Additional Sum Provided as a Bridge Loan Karel and Preo announce that further to their joint press releases issued on February 2, 2010 and May 5, 2010, Karel has provided a bridge loan of $250,000 to Preo (the "Bridge Loan"), being an increase of $25,000 of the previously announced amount of the loan, all as permitted by the Policy. The Bridge Loan is being provided to fund Preo's operations prior to the Closing Date. Continuing Halt to Trading of Karel Shares Trading of the Karel Shares continues to halted and will recommence at such time as the Exchange may determine, having regard to the completion of certain requirements pursuant to the Policy. Completion of the transaction is subject to a number of conditions. There can be no assurance that the transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative. The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. About Preo Preo has developed proprietary software that enables print users to maximize their print assets by optimizing print jobs to the appropriate printer. Preo's proprietary flagship product is called Printelligence(TM)and is sold as a monthly subscription service. Printelligence(TM) is a web based print management system that adapts itself to an organization's printing behaviour. This patent pending adaptive rules engine modifies the messaging delivered to end-users at the desktop, based on individual behaviour. Printelligence(TM) helps organizations educate their employees as to the true costs of printing. About Karel Capital Corporation Karel Capital Corporation is a capital pool company as defined by the Policy. The principal business of the Company is to identify and evaluate opportunities for the acquisition of an interest in assets of businesses and, once identified and evaluated, to negotiate an acquisition or participation subject to receipt of shareholder approval and acceptance for filing by the Exchange.
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