Wi2Wi Corp. Announces Results of Voting at Special Meeting of Shareholders and Shares for Debt transaction
TORONTO, ON / Wi2Wi Corporation ("Wi2Wi" or the "Company") announces that, at the Special Meeting of Shareholders held on September 25, 2015 (the Meeting), the Company's shareholders approved a resolution authorizing the creation of LaSalle Capital Group II-A L.P. ("LaSalle") as a Control Person and approving the shares for debt transaction creating the Control Person. The details of the shares for debt transaction with LaSalle were previously announced on June 19, 2015.
Wi2Wi further announces that, subject to approval from the TSX Venture Exchange, it has agreed to shares for debt transactions with four creditors to pay an aggregate amount of $745,118.97 (the Debt). Approximately 5,844,070 common shares of Wi2Wi will be issued to the creditors as consideration for the Debt. The common shares will be issued at a deemed price of $0.1275 per common share.
LaSalle is a leading private equity firm with extensive experience in the lower middle market. LaSalle currently manages two funds totaling over $330 million in capital. LaSalle's team has deep experience in partnering with management teams to grow and develop middle market businesses. LaSalle adds value to companies by providing strategic operating focus and promoting growth organically and through acquisitions.
About Wi2Wi Corporation
Wi2Wi is a vertically-integrated global designer, integrator and manufacturer of wireless technology solutions for a diverse range of premium global markets. The Company's product suite includes Wireless Connectivity solutions, Frequency Controllers, as well as RF and Microwave Filters for advanced avionics, space, infrastructure, medical, government, industrial, communications, consumer and other premium applications.
Strategically located in the USA, the Company's headquarters, as well as its design and engineering for wireless connectivity and global navigation satellite system (GNSS) solutions, are based in San Jose, CA, in the heart of Silicon Valley. Wi2Wi's state-of-the-art manufacturing and operations, along with design and engineering for timing devices, frequency controllers and RF & microwave filters, are based in Middleton, WI, in the center of North America's industrial belt. The Company has established itself as a leader in premium global markets providing more than 300 "blue chip" customers with technology solutions for avionics; space; military; defense; government; infrastructure; industrial; automotive; medical; communications; mobile-radio; Internet of Things (IoT); personal navigation devices and premium consumer applications. Wi2Wi's provides an extensive product range of both "out-of-the-box" and customized solutions, leveraging its technology along with tier-1 global partnerships with industry leading silicon and supply chain companies, serving a large number of the world's largest and most innovative companies.
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President and Chief Executive Officer