Radiant Communications Corp. Completes Plan of Arrangement
VANCOUVER, CANADA, Oct 17, 2013 (Marketwired via COMTEX) --
Radiant Communications Corp. ("Radiant") (TSX VENTURE:RCN) is pleased to announce the successful completion of its previously announced going-private transaction (the "Transaction") pursuant to which an affiliated entity of Comwave Networks Inc., 8612536 Canada Inc. (the "Purchaser"), acquired all of the issued and outstanding common shares of Radiant ("Common Shares") that the Purchaser and its affiliates do not already own for cash consideration of $1.43 per Common Share (the "Consideration") by way of a plan of arrangement (the "Arrangement"). Pursuant to the Arrangement, all of the outstanding options of the Company ("Options") were cancelled and optionholders holding such Options that have an exercise price that is less than the Consideration will receive a cash amount equal to the amount by which the Consideration exceeds the exercise price payable under such Options. The Arrangement was completed following the approval of the Supreme Court of British Columbia and the satisfaction of various conditions precedent to the Arrangement.
The common shares of Radiant will be delisted from the TSX Venture on or about October 18, 2013. Radiant will also apply to cease to be a reporting issuer under applicable Canadian securities laws.
Further information regarding the Arrangement are contained in Radiant's management information circular dated September 11, 2013, which is available under Radiant's profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
About Radiant Communications Corp.
Radiant is a leading provider of managed network and cloud hosting solutions for medium-size enterprises. Leveraging one of the largest Internet footprints across Canada, Radiant offers a comprehensive portfolio of reliable, secure and scalable IT infrastructure services, simplified under a single point of contact. For over 15 years, many of Canada's most recognized brand names have been relying on Radiant to support their mission-critical business operations.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT: Investor Relations 604-692-4531 email@example.com www.radiant.net
SOURCE: Radiant Communications Corp.
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