AgJunction Inc. Announces Court Approval for Plan of Arrangement

Tuesday, 30. November 2021 14:30

SCOTTSDALE, Ariz., Nov. 30, 2021 (GLOBE NEWSWIRE) -- AgJunction Inc. (TSX: AJX) ("AgJunction" or the "Corporation") is pleased to announce that on November 29, 2021, it received final approval from the Court of Queen’s Bench of Alberta for the previously announced plan of arrangement (the "Arrangement") pursuant to which Kubota Canada Ltd., a wholly-owned subsidiary of Kubota Corporation, will acquire all outstanding common shares of AgJunction ("AgJunction Shares") for cash consideration of CAD $0.75 per AgJunction Share. The Arrangement is expected to be completed on December 7, 2021. Following completion of the Arrangement, the AgJunction Shares are expected to be delisted from the Toronto Stock Exchange.

About AgJunction
AgJunction is a global leader of advanced guidance and autosteering solutions for precision agriculture applications. Its technologies are critical components in over 30 of the world’s leading precision Ag manufacturers and solution providers and it owns or licenses over 200 patents and patents pending. AgJunction markets its solutions under leading brand names including Novariant®, Wheelman®, Whirl™ and Handsfreefarm® and is committed to advancing its vision by bringing affordable hands-free farming to every farm, regardless of terrain or size. AgJunction is headquartered in Scottsdale, Arizona, and is listed on the TSX under the symbol "AJX." For more information, visit www.agjunction.com

Media Relations
Email: press@agjunction.com

Investor Relations 
Gateway Investor Relations
Cody Slach or Cody Cree
E-mail: AJX@gatewayir.com
Phone: 1-949-574-3862

Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws and is based on the expectations, estimates and projections of management of AgJunction as of the date of this press release, unless otherwise stated. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information. In particular, this press release contains, without limitation, forward-looking information and statements pertaining to: the expected closing date of the Arrangement, the ability of the parties to satisfy the conditions to, and to complete, the Arrangement and delisting of the AgJunction Shares.

With respect to the forward-looking statements contained in this press release, AgJunction has made assumptions, including but not limited to expectations and assumptions that all necessary conditions will be met for the completion of the Arrangement. Although AgJunction believes that the expectations reflected in the forward-looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this press release, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur.

By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that forward-looking statements will not occur. These risks and uncertainties include, without limitation, the failure of AgJunction and Kubota Canada to satisfy the conditions to completion of the Arrangement, in a timely manner, or at all. The forward-looking statements contained in this press release are made as of the date hereof and AgJunction does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Readers are cautioned that the forgoing lists of factors are not exhaustive. Additional information on these and other factors are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) and at AgJunction's website (AgJunction.com). Furthermore, the forward-looking statements contained in this press release are made as at the date of this press release and AgJunction does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

 


Primary Logo

Related Links: 
Author:
Copyright GlobeNewswire, Inc. 2016. All rights reserved.
You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account.