SoftLab9 Software Solutions Inc. Extends Exclusivity Agreement
Vancouver, British Columbia--(Newsfile Corp. - July 15, 2019) - SoftLab9 Software Solutions Inc. (CSE: SOFT) (FSE: APO1) (the "Company" or "SoftLab9"), is pleased to announce that further to its news release dated June 5, 2019, the Company has extended the exclusivity agreement (the "Exclusivity Agreement") with A&R development Ltd. ("A&R") whereby the Company will have until August 15, 2019 to conduct due diligence on A&R, with a view to negotiating the terms of a letter of intent and, if applicable, a definitive agreement in order to complete the acquisition of all of the outstanding securities of A&R (the "Proposed Transaction").
The Company is also reviewing and discussing other possible transactions with other companies in order to explore and evaluate other opportunities for the Company.
Further details will be provided in a future news release, if and when the Company and A&R execute a letter of intent and/or definitive agreement in respect of the Proposed Transaction.
The Proposed Transaction is subject to, among other things, the completion of due diligence, the execution of a mutually satisfactory definitive agreement and obtaining all necessary regulatory approvals, including the Canadian Securities Exchange (the "CSE"), if applicable.
About SoftLab9 Software Solutions Inc.
SoftLab9 is engaged in software development for advertising, Fintech, RegTech, data aggregation, and compliance in today's new, data-driven business landscape. We strive to be industry leaders, creating innovations engineered from the ground up by our diverse culture of talent. SoftLab9 delivers sustained value by strategically producing next generation software and services to address our clients' immediate and long-term needs, helping them reach their goals on a global scale.
Contact for SoftLab9:
Rahim Mohamed, CEO
SoftLab9 Software Solutions Inc.
T: (403) 605-9429
This news release may contain forward-looking statements including but not limited to the Proposed Transaction, and other possible transactions. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "will", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Actual results may differ materially from those currently anticipated in such statements and the Company undertakes no obligation to update such statements, except as required by law. The reader is cautioned not to place undue reliance on any forward-looking information.
There can be no assurance that the Proposed Transaction will be completed or, if completed, will be successful. Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to, if applicable, CSE acceptance.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: that laws and regulations may become more onerous; the ability of the Company to obtain necessary financing; the economy generally; the future growth, results of operations, performance and business prospects and opportunities; changes in laws and regulations; changes in and the effect of government policies; demand for products and services; competition; anticipated and unanticipated costs; reliance on management; claims and legal proceedings; conflicts of interest; and market price and volatility of the common shares of the Company. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, changes in laws, negative sentiment towards the industry in which the Company operates, increase in operating costs, the loss of key directors, employees, advisors or consultants, technology failures, litigation, failure to develop new and innovative products, failure of counterparties to perform their contractual obligations and fees charged by service providers. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The CSE has not reviewed, nor approved the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46286