TORONTO, March 16, 2020 (GLOBE NEWSWIRE) -- Cryptologic Corp. (“Cryptologic” or the “Company”) (CSE:CRY) today announces the voting results from its annual and special meeting of shareholders and meeting of holders of 8% extendible convertible unsecured debentures, both held in Toronto on March 13, 2020.
All resolutions put forward at each meeting as described in the management information circular for each meeting dated February 10, 2020 were approved, including the election of John Kennedy FitzGerald, Dale Johnson and Tom English as directors of the Company for the ensuing year.
Having received approval of the extraordinary resolution to amend the terms of the debenture indenture between the Company and AST Trust Company (Canada) (the “Trustee”) dated June 21, 2018, upon entering into a supplemental indenture with the Trustee effecting the amendments set out in the extraordinary resolution, Cryptologic intends to provide written notice to its debenture holders that the Company will force the conversion of all outstanding debentures at a conversion price of $1.00, and that Cryptologic will provide for the payment of accrued interest to the date of conversion by issuing common shares of the Company at a price equal to the accrued interest divided by the conversion price.
For information or interview please contact:
Jordan Greenberg
Chief Financial Officer
(647) 715-3707
About Cryptologic Corp.
Cryptologic Corp. is currently a cryptocurrency mining company that is focused on divesting its crypto mining assets and exploring acquisition opportunities in sectors outside of cryptocurrency mining.
Cautionary Note Regarding Forward-Looking Information
Certain statements in this press release, including statements with respect to the Company’s intention to force the conversion of the debentures, the conversion price, the Company and the Trustee entering into a supplemental indenture and the payment of accrued interest to the date of conversion by issuing common shares contain forward-looking information which can be identified by the use of forward looking terminology such as "believes", "expects", "may", "desires", "will", "should", "projects", "estimates", "contemplates", "anticipates", "intends", or any negative such as "does not believe" or other variations thereof or comparable terminology. No assurance can be given that potential future results or circumstances described in the forward-looking statements will be achieved or will occur. By their nature, these forward-looking statements necessarily involve risks and uncertainties, including the risk that the Company and the Trustee do not enter into the supplemental indenture, the Company does not proceed with the forced conversion at the conversion price set out herein, on the timing described herein or at all, and other risks and uncertainties discussed herein, that could cause actual results to significantly differ from those contemplated by these forward-looking statements. Such statements reflect the view of the Company with respect to future events, and are based on information currently available to the Company and on assumptions, which it considers reasonable. Management cautions readers that the assumptions relative to the future events, several of which are beyond management's control, could prove to be incorrect, given that they are subject to certain risk and uncertainties, and that actual results may differ materially from those projected. Management disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information. The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.