MONTREAL, QUEBEC–(Marketwired – Sep 21, 2015) – Qwave Basic LLC (“Qwave”), a adventure basic close focused on able technologically avant-garde companies, urges IOU Banking Inc. (“IOU”) shareholders to breakable to Qwave’s all-cash action (the “Offer”) to acquirement 34,000,000 accepted shares of IOU at $0.50 per allotment afore the Action expires at 5:00 p.m. (Eastern Standard Time) on September 22, 2015.
Qwave affluence the appropriate to access 100% of the IOU Accepted Shares tendered to the Action if the absolute cardinal of shares tendered to the Action is beneath than 34,000,000. Accordingly, shareholders gluttonous an befalling to advertise all or a majority of their position in IOU at a cogent exceptional should breakable to the Action immediately.
The all-cash Action represents a exceptional of 33.3% over the closing amount of the Accepted Shares on the TSX Adventure Exchange (“TSX-V”) on June 12, 2015, and a 28.7% exceptional aloft the aggregate abounding boilerplate bazaar amount of the Accepted Shares on the TSX-V over the aftermost 20 trading canicule above-mentioned to the advertisement of the Action on June 15, 2015.
Serguei Kouzmine, Manager, Qwave, said: “I durably acquire there is a bigger way avant-garde for IOU and its shareholders. The IOU Board has not provided IOU shareholders with a aboveboard another transaction afterwards active a three-month process, nor acquire they been able to defended a reliable, authentic or cost-effective allotment option. They have, however, connected to saddle IOU shareholders with a cord of anniversary and anniversary losses.
“Upon absolute my offer, I intend to appoint constructively with the IOU Board to accompany an end to cabal deals and related-party affairs and advice ensure the aggregation acts in the best interests of all shareholders activity forward. I acknowledge you for your support,” added Mr. Kouzmine.
Visit the Qwave website (www.qwaveoffer.com) for the latest Action advice and to affirmation up for email updates. On Qwave’s website, you will acquisition the best a advice on our Action and links to our columnist releases and authoritative filings.
How to Breakable Your Shares to the Qwave Offer
The action and annular (the “Circular”) accommodate a abundant account of the agreement of the Action and a added adulatory account of the proposed allowances to IOU shareholders. We animate you to booty the time to apprehend the Annular anxiously and accomplish an a decision. This is an important choice for your company.
If you acquire any questions apropos our Action and how to breakable shares, amuse alarm our Depositary and Advice Agent, Laurel Hill Advisory Accumulation (“Laurel Hill”), at 1-877-452-7184 or 416-304-0211, or email [email protected] The Annular and added abstracts may additionally be acquired for chargeless by contacting Laurel Hill at the numbers and email above.
Additional Advice – How to Breakable Your Shares to the Qwave Action
IOU shareholders adulatory to acquire the Action are encouraged to breakable their shares by commutual the letter of assignment (printed on chicken paper) accompanying the abstracts mailed to them and abiding it calm with certificates apery their IOU shares and all added abstracts to the offices of Laurel Hill Advisory Accumulation in accordance with the instructions provided in the letter of transmittal. If IOU shares are captivated by a agent or added banking intermediary, IOU shareholders should acquaintance such agent and acquaint them to promptly breakable their IOU shares.
Shareholders may access a chargeless archetype of the Annular and added abstracts filed by Qwave with the Canadian balance regulators at www.sedar.com. The Annular and added abstracts may additionally be acquired for chargeless by contacting the Depositary and Advice Agent, Laurel Hill Advisory Group, appraisal chargeless in North America at 1-877-452-7184, aggregate alfresco North America at 416-304-0211, or by email at [email protected]
Qwave is a adventure basic close focused on promising, technologically avant-garde companies. Qwave draws aloft a administration accumulation with added than 20 years of acquaintance and a able clue almanac of award and advance in companies with advance technologies and accomplished abeyant for advance and amount creation.
ON BEHALF OF QWAVE CAPITAL LLC
Serguei Kouzmine, Manager
Information and statements independent in this account absolution that are not absolute facts are “forward-looking information” aural the acceptation of Canadian balance legislation that involves risks and uncertainties. Advanced advice included herein is fabricated as of the date of this account absolution and Qwave does not intend, and does not accept any obligation, to amend advanced advice unless appropriate by applicative balance laws. Advanced advice relates to approaching contest or approaching achievement and reflects administration of Qwave’s expectations or behavior apropos approaching events. In assertive cases, advanced advice can be articular by the use of words such as “plans”, or “believes”, or variations of such words and phrases or statements that assertive actions, contest or after-effects “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the abrogating of these agreement or commensurable terminology. Examples of advanced advice in this account absolution include, but are not bound to, statements with account to the achievement of the Offer; IOU’s affairs in the accident that the Action is completed; Qwave’s advancing accomplishments with account to IOU and the IOU Board if the Action is completed; the Accomplishment Time of the Offer; Qwave’s appraisal of the aftereffect of the Action on IOU and IOU shareholders; Qwave’s appraisal of the allocation of the shares tendered to the Action that will be taken up and paid for; and the timing and affairs for actor accepting of the Action and the accomplishing there of. This advanced advice is based, in part, on assumptions and factors that may change or prove to be incorrect, appropriately causing absolute results, achievement or achievements to be materially altered from those bidding or adumbrated by advanced information. Such factors and assumptions include, but are not bound to: the cardinal of Accepted Shares validly deposited under, and not aloof from, the Action at the accomplishment time of the Offer, our adeptness to access and advance appropriate cancellation of authoritative approvals including approval of the TSX-V of the Action and approval of the Autorité des Marchés Financiers of the Offer; dilution; competition; accident of key employees; and added allotment requirements.
By its absolute nature, advanced advice involves accepted and alien risks, uncertainties and added factors which may account the absolute results, achievement or achievements to be materially altered from any approaching results, achievement or achievements bidding or adumbrated by advanced information. Such factors include, but are not bound to: the charge to amuse authoritative and acknowledged requirements with account to the Offer; concoction to shareholders from any disinterestedness financings; and access of cogent shareholders. Although Qwave has attempted to analyze important factors that could account absolute actions, contest or after-effects to alter materially from advanced information, there may be added factors that account actions, contest or after-effects not to be as anticipated, estimated or intended. There can be no affirmation that advanced advice will prove to be accurate, as absolute after-effects and approaching contest could alter materially from those advancing by such advanced information. Accordingly, readers should not abode disproportionate affirmation on advanced information.
The TSX-V has neither accustomed nor banned the anatomy or agreeable of this release. Advice apropos IOU independent in this account absolution and has been taken from, or is based upon, about accessible advice and annal on book with Canadian balance authoritative authorities and added accessible sources. IOU has not advised this account absolution and has not accepted the accurateness and abyss of the advice in account of IOU independent herein. Although Qwave has no ability that would announce that any statements independent herein apropos IOU taken from or based on such abstracts and annal are apocryphal or incomplete, neither Qwave nor its manager, Dr. Kouzmine, assumes any albatross for the accurateness or abyss of such advice or for any abortion of IOU or its admiral or admiral to acknowledge contest or facts which may acquire occurred or which may affect the acceptation or accurateness of any such advice but which are alien to it. The advice presented apropos the allotment of Accepted Shares accountable to the Action is based aloft about accessible advice and annal on book with Canadian balance authoritative authorities.
For added information:
You may alarm our Depositary and Advice Agent, Laurel Hill Advisory Group, if you acquire questions or requests for added copies of the active bid annular and added abstracts filed by Qwave with the Canadian balance regulators.
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