VANCOUVER, BRITISH COLUMBIA August 23, 2011 – Icron Technologies Corporation (TSX-V: IT) (“Icron”) announces that it intends to complete its previously announced plan of arrangement (the “Arrangement”) with Pender Financial Group Corporation and 7895461 Canada Inc. on Monday, August 29, 2011.
The Arrangement was approved by Icron’s shareholders at a meeting held on August 10, 2011, and approved by final order of the Supreme Court of British Columbia on August 12, 2011.
Under the Arrangement, 7895461 Canada Inc. will acquire all of the issued and outstanding common shares of Icron in exchange for $0.53 in cash per share. Each holder of an option to acquire shares will receive a cash payment per option equal to the difference between $0.53 and the exercise price of the option.
Icron has requested that trading in its common shares on the TSX Venture Exchange be halted on August 24, 2011 to allow for settlement of all trades prior to the closing date of the Arrangement. Following completion of the Arrangement, Icron will apply to delist its common shares from the TSX Venture Exchange, and will apply to cease to be a reporting issuer in British Columbia, Alberta and Ontario.
The TSX-V has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release.
The TSX-V has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release.
For further information, please contact:
Todd Hamel
Chief Financial Officer
604-638-3924
todd.hamel@icron.com
About Icron Technologies Corporation
Icron Technologies (TSX-V:IT) is an innovative leader in the development and manufacturing of high-performance video and USB extension solutions for commercial and industrial markets worldwide. Icron’s patented extension technology extends PC Video and USB devices over many media types including Cat 5e, Fiber, Wireless, DisplayPort, Coax, Powerline, and over a corporate LAN. Icron’s extension products are deployed in a wide range of applications such as digital home connectivity, industrial automation, medical imaging, aerospace, interactive digital signage, remote desktop extension, security and surveillance, enterprise computing, isolated USB, and point-of-sale markets, or anywhere where a PC needs to be remotely located from a display or peripheral device.
Icron is a publicly traded corporation and trades under the symbol “IT” on the TSX Venture Exchange. For more information on the company and its products, please visit https://www.icron.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release―including, without limitation, statements regarding financial estimates and future plans and objectives of Icron―are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.