Popular on EntSun
- Financial Solutions Inc. Receives the 2020 Best of Sheridan Wyoming Award - 113
- Cat 5 Studios Announces Partnership with AMS
- Media Personality Cyrus Webb of Mississippi Prepares for History-making Event in Feb. 2021
- Blissful in the Bottoms Offers a Cheerful Start to the New Year
- TJL Collection announces All Virtual 2021 TJL Fashion Collection Show
- Ismail Sirdah on New Innovations in Event Promotion Marketing for a Post-COVID-19
- Greg Curran and David Hanscom N.A.M.E. adv. board members Start Entertainment Educational podcast!
- RiseUP TV! Why COVID is NOT slowing us down!
- UNCF Atlanta Mayor's Masked Ball airs Today on WXIA TV 11 at 11 am
- State of Writing 2021 examines how to improve writing ROI
Similar on EntSun
- MDAdvantage Appoints Pete Cammarano to Board of Directors
- expEDIum Direct Pay®, seamless online payment added to iTech's expEDIum Medical Billing®
- 'Aesthetic Institute of Massachusetts' Announces Rebranding to 'Aesthetic Mentor'
- Code18 Interactive Launches New Websites for Balmex and Balmex Adult
- Grassroots Advocacy Group Urges Biden Administration to Appoint a Doctoral Level Mental Health Professional to Lead SAMHSA
- Swaggerty's Receives Highest Possible Grade from BRC Food Safety Auditors for 8th Consecutive Year
- Be an Example, Get the Covid Shot
- Former CEO & Founder of Five Star Custom Foods, Acquired by Cargill, Joins CEO Coaching International
- Texpak Offers Environmentally-Friendly Ecotach™ Fasteners to Address Sustainability Needs
- The Business Consultant behind The First Black-owned BP
Velocity Data Announces Agreement to Acquire NuBreed Nutrition Inc
EntSun News/10832307
Not For Distribution To Press Services In The United States And Not For Circulation In The United States
WINDSOR, Ontario - EntSun -- Velocity Data (now know as Emergence Global Enterprises Inc., but listed for trading on the Canadian Securities Exchange as Velocity Data Inc.) is pleased to announce that it has entered into a binding share purchase agreement (the "Purchase Agreement"), dated July 31, 2020, pursuant to which the Company has agreed to acquire all of the issued and outstanding shares in the capital of Nubreed Nutrition, Inc. ("Nubreed") (the "Transaction"), a developer and distributor of branded sports and nutrition specialty supplements. In connection with the Purchase Agreement, the sole shareholder of Nubreed (the "Vendor") is entitled to receive aggregate consideration of 1,000,000 common shares in the capital of the Company ("Common Shares") to be issued to the Vendor at the closing time.
The Transaction is expected to result in a "Change of Business" of the Company as such term is defined in Canadian Securities Exchange Policy No. 8 – "Fundamental Changes & Changes of Business". Once consummated, the Transaction will change the nature of the Issuer's business from being a distributor of computer systems and related components to a builder of reputable consumer brands using leading innovation, integrated platforms and full traceability for the health food marketplace. The completion of the Transaction is subject to certain conditions precedent including receipt of approval from the Canadian Securities Exchange.
More on EntSun News
About the Company (listed on the Canadian Securities Exchange as "Velocity Data Inc.")
The Company is in a transition phase. On February 28, 2018, the Company announced its intention to exit its business of selling computer systems and related components and focus on new investments and projects. The Company's business was previously conducted by the Company's wholly owned subsidiary ACL Computers and Software Inc.. On January 28, 2020, the CSE notified the Company that it did not meet the continued listing requirements as set out in CSE Policy 2, Appendix A, Section 2.9 and the CSE considered the Company "inactive". In accordance with CSE Policy 3, Section 5.1, an ".X" extension was added to the Company's trading symbol. The Company is considering a number of development projects, including by way of strategic acquisition, including the proposed Transaction.
Additional information about the Company can be found on SEDAR at www.sedar.com under the Issuer Profile of "Velocity Data Inc.".
About Nubreed Nutrition, Inc.
Nubreed is a private corporation organized under the laws of the State of Michigan. It develops and distributes branded sports and nutrition specialty supplements in the United States, Canada, Australia and other jurisdictions.
Cautionary Statement Regarding Forward-Looking Information
Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: closing and the terms and conditions of the proposed transaction; the business and operations of the Company after closing the proposed transaction. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the nutraceutical and botanical industry. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company 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 law. There can be no assurance that the proposed transaction will occur or that the anticipated financial, economic or strategic benefits will be realized. The completion of the proposed transaction is subject to a number of conditions including approval of the Canadian Securities Exchange, and there can be no assurance that approvals will be obtained and/or any other conditions will be met.
More on EntSun News
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
The Transaction is expected to result in a "Change of Business" of the Company as such term is defined in Canadian Securities Exchange Policy No. 8 – "Fundamental Changes & Changes of Business". Once consummated, the Transaction will change the nature of the Issuer's business from being a distributor of computer systems and related components to a builder of reputable consumer brands using leading innovation, integrated platforms and full traceability for the health food marketplace. The completion of the Transaction is subject to certain conditions precedent including receipt of approval from the Canadian Securities Exchange.
More on EntSun News
- Kaizen Finance Launches Staking to Foster the Widespread Adoption of DeFi
- Ismail Sirdah Describes the Best Practices for Holding Corporate Events
- MDAdvantage Appoints Pete Cammarano to Board of Directors
- Business Update from Fascinators Direct
- CEO Coaching International Congratulates Client Orion Energy on Successful Capital Partnerships
About the Company (listed on the Canadian Securities Exchange as "Velocity Data Inc.")
The Company is in a transition phase. On February 28, 2018, the Company announced its intention to exit its business of selling computer systems and related components and focus on new investments and projects. The Company's business was previously conducted by the Company's wholly owned subsidiary ACL Computers and Software Inc.. On January 28, 2020, the CSE notified the Company that it did not meet the continued listing requirements as set out in CSE Policy 2, Appendix A, Section 2.9 and the CSE considered the Company "inactive". In accordance with CSE Policy 3, Section 5.1, an ".X" extension was added to the Company's trading symbol. The Company is considering a number of development projects, including by way of strategic acquisition, including the proposed Transaction.
Additional information about the Company can be found on SEDAR at www.sedar.com under the Issuer Profile of "Velocity Data Inc.".
About Nubreed Nutrition, Inc.
Nubreed is a private corporation organized under the laws of the State of Michigan. It develops and distributes branded sports and nutrition specialty supplements in the United States, Canada, Australia and other jurisdictions.
Cautionary Statement Regarding Forward-Looking Information
Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: closing and the terms and conditions of the proposed transaction; the business and operations of the Company after closing the proposed transaction. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the nutraceutical and botanical industry. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company 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 law. There can be no assurance that the proposed transaction will occur or that the anticipated financial, economic or strategic benefits will be realized. The completion of the proposed transaction is subject to a number of conditions including approval of the Canadian Securities Exchange, and there can be no assurance that approvals will be obtained and/or any other conditions will be met.
More on EntSun News
- expEDIum Direct Pay®, seamless online payment added to iTech's expEDIum Medical Billing®
- China Refuses to Accept Service of Berman Law Group's Coronavirus Class Action Complaint
- Love & Sip Valentine Brunch with Celebrity The Comedian, Tomea, Grammy Saxophonist Jason Davis, Gospel Contemporary Duo, Only God Ministries
- Rustic Deco Launches B2B Wholesale Furniture Website
- Watch Harjaei Series On Our Site For Free Today!
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Media Contact
Emergence Global Inc. / Velocity Data
Joe Byrne, President and CEO
ir@emergenceglobalinc.com
Emergence Global Inc. / Velocity Data
Joe Byrne, President and CEO
ir@emergenceglobalinc.com
Source: Velocity Data / Emergence Global Enterprises
Filed Under: Consumer
0 Comments
Latest on EntSun News
- Cleaning Care: How to Make Your Clothes Last Longer in the Laundry
- The Antenna Company Announces Venture Debt Financing Agreement with Brabant Development Agency (BOM)
- DonnaInk Publications author Candy Strother DeVore Mitchell is an enigma
- Donna Italia hires Miami Video Production Vision Movies to produce online marketing sales content
- Code18 Interactive Launches New Websites for Balmex and Balmex Adult
- Planet 90210 Show to Celebrate 30 years of Beverly Hills, 90210 and its Global Impact on Fans
- The Atlas Group adds Corbin Raines to their list of professional property managers
- The Society Incorporated To Celebrate Black History Month With Virtual Benefit Featuring Youth In The Arts
- Watch Aghazadeh Persian Series Today
- Latino Leaders Network to Honor Tucson Mayor Regina Romero with the Antonio Villaraigosa Leadership Award at the 34th Tribute to Mayors
- The UK's Leading Digital Marketing Agency, Finsbury Media Announces Employees Will Be Allowed To Work From Home:
- Introducing James Mayes, Owner and Designer of Luxury Clothing Brand Emline
- NMEA 2000 Development and Prototyping Boards for Marine Applications
- ICTBroadast Version 4.1, Advance call center software for your needs
- Hotelier Charlton Claxton Discusses Six Social Distancing Activities to Do with Friends
- Enigma Norteño releases new single "El Flaquito"
- Play Big Zone is an indoor play space and Arcades in Marlboro NJ
- CEO of Industrial Giant ABB in Brazil Joins CEO Coaching International
- President:-Elect Joe Biden & Vice President:-Kamala Harris to be honored at virtual concert
- Pres:- Elect Joe Biden and Vice Pres:- Elect Kamala Harris to be honored and the public is invited!