RECENTLY CLOSED PRIVATE PLACEMENT AFFIRMED
TORONTO, Dec. 15,
2023 /CNW/ - Aimia Inc. (TSX: AIM)
("Aimia" or the "Company") is pleased to announce
that Mithaq Canada Inc., a wholly-owned subsidiary of Mithaq
Capital SPC (together, "Mithaq") was unsuccessful in its
application (the "Application") to the Ontario Capital
Markets Tribunal (the "Tribunal") to, among other things,
cease trade the October 21, 2023
private placement of the Company (the "Private Placement").
After a hearing held on December 12
and 13, 2023 (the "Hearing"), the Tribunal dismissed the
Application and confirmed it would not amend or vary the approval
of the Private Placement previously given by the Toronto Stock
Exchange. This confirms the validity of the Private Placement, and
as a result ensures Aimia's additional liquidity and recent board
appointments remain in place.
Phil Mittleman, Chief Executive Officer of Aimia, remarked,
"We are very pleased with the Tribunal's decision regarding the
Private Placement, and will continue to focus on creating value for
Aimia's stakeholders, supported by this esteemed group of strategic
investors."
As previously announced, Aimia adopted a tactical shareholder
rights plan (the "Tactical Shareholder Rights Plan")
pursuant to a shareholder rights plan agreement entered into with
TSX Trust Company, as rights agent, dated December 6, 2023 for the specific purpose of
ensuring that Mithaq did not acquire shares of the Company pursuant
to a regulatory exemption (the "Exemption") prior to the
Hearing. The Tribunal concluded that Mithaq should not be
prohibited from using the Exemption, and so Aimia is terminating
the Tactical Shareholder Rights Plan.
About Aimia
Aimia Inc. (TSX: AIM) is a holding company that makes long-term
investments in private and public businesses through controlling or
minority stakes. Aimia targets companies with durable economic
advantages evidenced by a track record of substantial free cash
flow generation over complete business cycles, strong growth
prospects, and guided by strong, experienced management teams.
Headquartered in Toronto, Canada,
Aimia is positioned to invest in any sector, wherever a suitable
opportunity can be identified worldwide. In addition, Aimia seeks
investments that may efficiently utilize the Company's operating
and capital loss carry-forwards to further enhance stakeholder
value.
For more information about Aimia, visit www.aimia.com.
Forward-Looking
Statements
This press release contains statements that constitute
"forward-looking information" within the meaning of Canadian
securities laws ("forward-looking statements"), which are based
upon our current expectations, estimates, projections, assumptions
and beliefs. All information that is not clearly historical in
nature may constitute forward-looking statements. Forward-looking
statements are typically identified by the use of terms or phrases
such as "anticipate", "believe", "could", "estimate", "expect",
"intend", "may", "plan", "predict", "project", "will", "would" and
"should", and similar terms and phrases, including references to
assumptions.
Forward-looking statements in this press release include, but
are not limited to, statements with respect to the Private
Placement, the Tactical Shareholder Rights Plan, Aimia's current
and future strategic initiatives, investment opportunities and use
of cash; and Aimia's current and future strategic initiatives and
investment opportunities.
Forward-looking statements, by their nature, are based on
assumptions and are subject to known and unknown risks and
uncertainties, both general and specific, that contribute to the
possibility that the forward-looking statement will not occur. The
forward-looking statements in this press release speak only as of
the date hereof and reflect several material factors, expectations
and assumptions. While Aimia considers these factors, expectations
and assumptions to be reasonable, actual events or results could
differ materially from the results, predictions, forecasts,
conclusions or projections expressed or implied in the
forward-looking statements. Undue reliance should not be placed on
any predictions or forward-looking statements as these may be
affected by, among other things, changing external events and
general uncertainties of the business. A discussion of the material
risks applicable to us can be found in our current Management
Discussion and Analysis and Annual Information Form, each of which
have been or will be filed on SEDAR+ and can be accessed at
www.sedarplus.ca. Aimia cautions that the list of risk factors
included in such Management Discussion and Analysis is not
exhaustive. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they
are made and we disclaim any intention and assume no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise.
SOURCE Aimia Inc.