Rex Opportunity Corp. Obtains Final Order Approving Plan of Arrangement
Toronto, Ontario--(Newsfile Corp. - November 2, 2020) - Rex Opportunity Corp. ("Rex" or the "Company") is pleased to announce that it has obtained the final order from the Ontario Superior Court of Justice Commercial List approving the Plan of Arrangement under section 182 of the Business Corporations Act (Ontario) (the "Arrangement"). The Arrangement is more fully described in the management information circular of Rex dated September 11, 2020, a copy of which is available on SEDAR at www.sedar.com (the "Circular").
Pursuant to the Arrangement, Rex will create a new class of shares to be issued for the purpose of acquiring content, as described in the Circular, as part of its new business strategy (see press releases dated June 24, 29, September 1 and October 16, 2020). As previously announced on October 16, 2020, Rex received shareholder approval in connection with the Arrangement at the annual and special shareholder meeting held on October 16, 2020. Rex anticipates filing articles of arrangement under the Business Corporations Act (Ontario) in the near future.
Rex management is developing and implementing an internally generated business strategy focused on content and creators. Rex is identifying and reaching out to content creators broadcasting on digital platforms, such as Twitch for game streamers and YouTube for video, with the goal of amplifying the value of content for creators.
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