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BSM Technologies Inc. Completes Business Combination with Datacom Wireless Corporation
BSM Technologies Inc. (TSX-V:GPS) and Datacom Wireless Corporation (TSX-V:DAT) completed a business combination pursuant to which BSM acquired all of the issued and outstanding shares of Datacom by way of a three-cornered amalgamation involving BSM, Datacom and a wholly-owned subsidiary of BSM. Each common share of Datacom was exchanged for approximately 4.2421 common shares of BSM such that following the completion of the business combination the former holders of securities of BSM own 59.5% of all securities of BSM outstanding, on a fully diluted basis, and the former holders of securities of Datacom own 40.5% of all securities of BSM outstanding, on a fully diluted basis. In connection with the business combination, BSM completed certain pre-merger reorganization transactions including the issuance of a newly created series of convertible preferred shares in exchange of all outstanding convertible debentures of BSM.
Wildeboer Dellelce LLP acted for BSM in connection with the business combination with a team that included Robert Wortzman, Sanjeev Patel and Alexis Vazquez (corporate/securities) and Kevin Fritz (tax).
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