PRVT » Topics » 2.1 The Transaction

This excerpt taken from the PRVT 8-K filed Oct 16, 2009.

2.1 The Transaction

(a) The Share Purchase. At the Closing, subject to the terms and conditions of this Agreement, Sellers and Sub shall effect the Share Purchase; for greater certainty, Sellers shall sell, transfer and assign to Sub, and Sub shall purchase from Sellers, good and marketable title to all of the Company Shares held by Sellers, free and clear of all Security Interests, restrictions and claims or rights of another in exchange for the issuance by Sub of the Sub Preference Shares pursuant to the remainder of this Article 2.

 

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(b) The Amalgamation. At the Closing and immediately following the Share Purchase, subject to the terms and conditions of this Agreement and the Amalgamation Agreement, and in accordance with the Act, Sub and the Company shall effect the Amalgamation by way of statutory amalgamation under the Act.

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