CALGARY, ALBERTA–(Marketwired – May 11, 2017) –
THIS PRESS RELEASE IS NOT FOR PUBLICATION OR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.
Exito Energy II Inc. (“Exito“) (TSX VENTURE:EXI.P) and Good Life Networks Inc. (“GLN“) announce that further to the news releases dated May 2, 2017 and May 5, 2017 announcing mailing of the meeting materials of Exito and GLN (the “Meeting Materials“) with respect to the proposed business combination intended to constitute Exito’s Qualifying Transaction (the “Proposed Transaction“), as such term is defined in the policies of the TSX Venture Exchange (the “TSX-V“), each of Exito and GLN have mailed an addendum (the “Addendum“) to the Meeting Materials to their shareholders to correct certain typographic errors.
The typographic errors relate to the number of resulting issuer shares that will be issued pursuant to the private placement of subscription receipts to be completed by GLN (the “Concurrent Financing“) as set out in the joint supplement of Exito and GLN dated March 31, 2017 (the “Joint Supplement“), and forming part of the Meeting Materials. The correct number of resulting issuer shares that will be issued pursuant to the Concurrent Financing is 26,000,000 shares at a deemed price of CAD$0.25 per share for gross proceeds of at least CAD$6,500,000. The Addendum also includes corrected figures reflecting the resulting issuer shares that will be issued pursuant to the Concurrent Financing for the pro-forma share capital table which formed part of the resulting issuer pro forma financial statements attached as Appendix “K” to the Joint Supplement. Further details are provided in the Addendum. Exito and GLN encourage their shareholders to review the Addendum in connection with their respective shareholder meetings.
The Addendum, along with the Meeting Materials, is available under Exito’s profile on SEDAR at www.sedar.com.
Cautionary Statement
Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to final TSX-V acceptance. The Proposed Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular 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.
This news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Other than as required by law, neither Exito nor GLN will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed by Exito from time to time with the Canadian securities regulatory authorities.
Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Brad Docherty
President, Chief Executive Officer and Director
(403) 472-5767
Good Life Networks Inc.
Jesse Dylan
President, Chief Executive Officer and Director
(604) 341-8300