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TORONTO, Feb. 9, 2021 /CNW/ - Converge Technology
Solutions Corp. ("Converge" or "the Company") (TSXV:
CTS) (FSE: 0ZB) (OTCQX: CTSDF) a national platform of
regionally focused Hybrid IT solution providers in the U.S. and
Canada, is pleased to
announce that it has received final approval from the Toronto
Stock Exchange ("TSX") to graduate from the TSX Venture Exchange
("TSXV") and list the Company's common shares ("Common Shares") on
the TSX.
"Having successfully executed on our business objectives since
listing on the TSXV and with further expansion on the horizon, a
graduation to the TSX represents a natural progression for the
Company," stated Shaun Maine, CEO of
Converge. "Graduating to a senior exchange aligns appropriately
with our focus to reach the broader investment community while
improving liquidity for our valued shareholders."
The Common Shares will commence trading on the TSX at
the opening of markets on Thursday, February
11, 2021 under the existing stock symbol "CTS". In
connection with the listing of the Common Shares on the TSX,
the last day of trading on the TSXV will be February 10, 2021 and the Common Shares will
be delisted from the TSXV on February 11,
2021 upon commencement of trading on the TSX. Shareholders
will not be required to take any action in connection with the
graduation and listing on the TSX.
Upon listing on the TSX, and pursuant to the terms of the escrow
agreements between the Company, Computershare Investor Services
Inc., and certain security holders of the Company, an aggregate of
6,294,369 Common Shares currently held in escrow will be
released. The number of outstanding Common Shares will not change
as a result of the escrow release.
About Converge
Converge Technology Solutions Corp. is a North American
software-enabled, Hybrid IT solution provider focused on delivering
industry-leading solutions and services. Converge's regional sales
and services organizations deliver advanced analytics, cloud,
cybersecurity, and managed services offerings to clients across
various industries. The Company supports these solutions with
talent expertise and digital infrastructure offerings across all
major IT vendors in the marketplace. This multi-faceted approach
enables Converge to address the unique business and technology
requirements for all clients in the public and private sectors. For
more information, visit convergetp.com.
Forward-Looking Statements
This press release contains certain "forward–looking
information" and "forward–looking statements" (collectively,
"forward–looking statements") within the meaning of applicable
Canadian securities legislation regarding Converge and its
business. Any statement that involves discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always
using phrases such as "expects", or "does not expect", "is
expected", "anticipates" or "does not anticipate", "plans",
"budget", "scheduled", "forecasts", "estimates", "believes" or
"intends" or variations of such words and phrases or stating that
certain actions, events or results "may" or "could", "would",
"might" or "will" be taken to occur or be achieved) are not
statements of historical fact and may be forward–looking
statements. 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. These forward-looking statements
include, but are not limited to, statements relating to the listing
of the Common Shares on the TSX, the delisting of the Common Shares
from the TSXV, the release of Common Shares from escrow, execution
of business objectives and further expansion of Converge, reaching
the broader investment community and increasing liquidity for
shareholders. Except as required by law, Converge assumes no
obligation to update the forward–looking statements of beliefs,
opinions, projections, or other factors, should they change. The
reader is cautioned not to place undue reliance on forward–looking
statements. For a detailed description of the risks and
uncertainties facing the Company and its business and affairs,
readers should refer to the Company's annual information form,
which is available on SEDAR under the Company's profile at
www.sedar.com, and the consolidated financial statements of the
Company for the years ended December 31,
2019 and 2018, together with the corresponding Management's
Discussion and Analysis for additional risk factors described under
"Risks and Uncertainties". 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.
SOURCE Converge Technology Solutions Corp.