Binovi Addresses Termination of Proposed Takeover by Captiva Verde

Rhea-AI Summary

Binovi Technologies has announced that the unsolicited offer from Captiva Verde Wellness Corp. to acquire its shares has been terminated. The decision follows Captiva's news release on August 19, 2021, indicating that no significant communication occurred between the two parties prior to the cancellation. Binovi emphasizes that it has no material facts related to the proposal. The company continues to focus on its neuro-vision performance technology and SaaS-based solution, which is utilized in over 20 countries to enhance cognitive and visual performance.

Positive

• The company continues to operate its SaaS-based solution for cognitive training and vision optimization.
• Binovi's technology is utilized in over 20 countries, indicating a strong international presence.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / August 27, 2021 / Binovi Technologies Corp. ("Binovi" or the "Company') (TSXV:VISN) (OTCQB:BNVIF)(GR:2EYA) a leader in neuro-vision performance technology, provides today an update with respect to the August 16, 2021 announcement by Captiva Verde Wellness Corp. ("Captiva") of its unsolicited offer to buy all of the shares of Binovi . By virtue of Captiva's news release of August 19, 2021, the Company has determined that the proposed offer by Capitva had been terminated. Between the offer date and the Capitva news release of August 19,2021, the Company had no significant communications or diligence exchange with Capitva or any party representing Capitva and is not aware of any material fact or circumstances with respect to or in connection with the Capitva proposal or the cancellation thereof.

@BinoviVISN - Twitter & Instagram

About Binovi Connect

Binovi is digitizing the delivery of healthcare by providing users access to all points of their individual performance from their phone, tablet or desktop computer. Designed for vision optimization and the enhancement of skills related to cognitive performance, Binovi provides measurable results in less time, and with less effort. As a SAAS based solution, the Binovi Connect App is supported by specialized expert knowledge, unique data insights and supporting hardware to deliver customized, one-on-one cognitive training and learning protocols ideal for K-12 Students, Vision Care Specialists, and Sports Performance testing and training. Binovi is currently used in over 20 countries.

On behalf of the Board of Directors

Investor Relations

Email: invest@binovi.com
Toll-free: 1 (844) 866-6162
https://www.binovi.com/investor-reports/

Forward looking information:

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com . The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law. Neither 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: Binovi Technologies Corp.

View source version on accesswire.com:
https://www.accesswire.com/661832/Binovi-Addresses-Termination-of-Proposed-Takeover-by-Captiva-Verde

FAQ

What was the recent announcement by Binovi Technologies regarding Captiva Verde?

Binovi Technologies announced that Captiva Verde's unsolicited offer to acquire its shares has been terminated, as communicated on August 19, 2021.

How did Binovi respond to the termination of the Captiva Verde takeover offer?

Binovi stated that there were no significant communications or diligence exchanges with Captiva during the offer period, leaving them unaware of any material facts regarding the proposal.

What technology does Binovi Technologies provide?

Binovi Technologies offers neuro-vision performance technology aimed at enhancing cognitive and visual performance through a SaaS-based solution.

In how many countries is Binovi's technology currently used?

Binovi's technology is utilized in over 20 countries.