TORONTO, March 11, 2025 (GLOBE NEWSWIRE) -- Quisitive Technology Solutions, Inc. ("Quisitive" or the "Company") (TSXV: QUIS; OTCQX: QUISF), a premier Microsoft Cloud and AI solutions provider, is pleased to announce the successful completion of the previously announced plan of arrangement under the Business Corporations Act (British Columbia) (the "Transaction") pursuant to which, among other things, an affiliate of funds managed by of H.I.G. Capital (the "Purchaser") acquired all of the issued and outstanding common shares of Quisitive (the "Shares") for C$0.57 per Share in cash, other than Shares previously held by certain employees who entered into rollover agreements.
The Company received the final order from the Supreme Court of British Columbia approving the Transaction on March 4, 2025, and the Shares are expected to be delisted from the TSX Venture Exchange after the end of trading on March 12, 2025. The Purchaser intends to cause Quisitive to submit an application to cease to be a reporting issuer under applicable Canadian securities laws.
Further details regarding the Transaction can be found in the Company's management information circular dated January 28, 2025, which is filed under the Company's SEDAR+ profile at www.sedarplus.ca.
About Quisitive
Quisitive is a premier, global Microsoft partner leveraging the power of the Microsoft cloud platform and artificial intelligence, alongside custom and proprietary technologies, to drive transformative outcomes for its customers. The Company focuses on helping enterprises across industries leverage the Microsoft platform to adopt, innovate, and thrive in the era of AI. For more information, visit www.Quisitive.com and follow @BeQuisitive.
Forward-Looking Information
Certain statements included in this press release may constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation. More particularly and without limitation, this press release contains forward-looking statements and information regarding the delisting of the Shares and Quisitive's application to cease to be a reporting issuer. Except as may be required by Canadian securities laws, the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements, by their very nature, are subject to numerous risks and uncertainties and are based on several assumptions which give rise to the possibility that actual results could differ materially from the Company's expectations expressed in or implied by such forward-looking statements and that the objectives, plans, strategic priorities and business outlook may not be achieved. As a result, the Company cannot guarantee that any forward-looking statements will materialize, or if any of them do, what benefits the Company will derive from them.
In respect of forward-looking statements and information concerning the delisting of the Shares and Quisitive's application to cease to be a reporting issuer, the Company has provided such statements and information in reliance on certain assumptions that it believes are reasonable at this time, including, but not limited to, assumptions as to the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory and stock exchange approvals. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. Accordingly, investors and others are cautioned that undue reliance should not be placed on any forward-looking statements.
Quisitive Contact:
Tami Anders
Chief of Staff
tami.anders@quisitive.com
972.573.0995
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
