![Helijet Completes Going Private Transaction](media/blog/min/31771-U8VxMYpB6XtjI5aPYrY55QdvJdNQQsKq.jpg)
RICHMOND, BC, July 26, 2019 /CNW/ - Helijet International Inc. (TSX-V: HJI) ("Helijet" or the "Corporation") announces the completion of its previously announced going private transaction pursuant to which Daniel Sitnam, the Corporation's President and CEO (the "Purchaser"), acquired all of the outstanding common shares of the Corporation, other than the shares held by insiders and their extended family and one other extended family (the "Non-Participating Shareholders") pursuant to a statutory plan of arrangement (the "Arrangement") and the terms of an arrangement agreement between the Corporation and the Purchaser dated May 15, 2019.
The Arrangement was completed following the approval of the Supreme Court of British Columbia and the satisfaction of various conditions precedent to the Arrangement. Payment of cash consideration of $0.30 per common share for the common shares acquired pursuant to the Arrangement will be made by the Depositary, Computershare Trust Company of Canada.
Registered shareholders of common shares are required to complete and sign a letter of transmittal and deliver it to the Depositary, together with any share certificates they may hold and the other required documents. Shareholders who hold their common shares through a broker or other intermediary may contact that broker or other intermediary for instructions and assistance in receiving the consideration for their respective common shares. Further information concerning these processes is outlined in the Corporation's management information circular dated May 15, 2019 a copy of which is available, along with the letter of transmittal, under the Corporation's profile at www.sedar.com.
Pursuant to the Arrangement, all of the outstanding options of the Corporation were surrendered and cancelled in exchange for a payment of $0.10 per Option. Other than the options, the Corporation did not have any other dilutive securities outstanding.
Any questions regarding the cash consideration, including any request for another letter of transmittal should be directed to Computershare Investor Services Inc., at its North American toll-free number: 1‐800‐ 564-6253; or for outside North America at +1 (514) 982-7555 or via email to service@computershare.com.
In connection with the completion of the Arrangement, the Corporation has applied to have the common shares of the Corporation de‐listed from the TSX Venture Exchange and expects that the common shares will be delisted effective at the close of business on July 26, 2019. The Corporation will also apply to cease to be a reporting issuer under applicable Canadian securities laws.
About Helijet International Inc.
Helijet International is a Canadian-owned company and the world's largest scheduled helicopter airline carrying well over 2.4 million passengers in the past 33 years. In addition to its scheduled helicopter services, Helijet is the major service provider of dedicated medically equipped helicopters to BC Emergency Health Services. Helijet also provides exclusive use helicopters and business turbojet services to world renowned Sport Fishing Resorts, public service and energy companies throughout the West Coast of British Columbia and Pacific North West. Online at www.helijet.com. Twitter: @Helijet.
Neither the 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.
Caution Regarding Forward-Looking Information Forward-looking statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often, but not always, identified by words such as "believes", "may", "likely", "plans", or similar words. Forward-looking statements included in this news release include statements with respect to (i) the Corporation's plan to de-list from the TSX Venture Exchange; and (ii) the Corporation's plan to apply to cease being a reporting issuer. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Corporation, including, but not limited to the impact of general economic conditions, industry conditions, currency fluctuations, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation, may prove to be imprecise and, as such, undue reliance should not be placed on the forward-looking statements. The Corporation does not assume any obligation to update the forward-looking statements to reflect changes in assumptions or circumstances other than as required by applicable law.
SOURCE Helijet International Inc.
![](https://rt.newswire.ca/rt.gif?NewsItemId=C6647&Transmission_Id=201907260830CANADANWCANADAPR_C6647&DateId=20190726)
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