Binovi Technologies Corp Responds to Unsolicited Captiva Verde Bid
Binovi Technologies Corp. has responded to an unsolicited acquisition bid from Captiva Verde, offering CDN $0.07 per share, representing a 75% premium on Binovi's closing price as of August 14, 2021. The company will establish a Special Committee to evaluate the bid and will update shareholders after the review, expected within 48 hours. Interim CEO Tania Archer stated that it's premature to assess the bid's merit. Binovi focuses on neuro-visual technology for cognitive performance training, catering to students and sports performance.
- Captiva Verde's bid offers a 75% premium over the last closing price, potentially increasing shareholder value.
- The establishment of a Special Committee indicates due diligence in evaluating strategic offers.
- The unsolicited nature of the bid may indicate challenges in Binovi's market position or operations.
TORONTO, ON and NEW YORK, NY / ACCESSWIRE / August 16, 2021 / Binovi Technologies Corp., ("Binovi" or the "Company") (TSXV:VISN)(OTCQB:BNVIF), best-in-class neuro-visual technology in cognitive performance training, provides a first response to the unsolicited bid announced today by Captiva Verde (PWR) (CPIVF) ("Captiva").
The Company today was informed by the principals of Captiva Verde ("Captiva") that Captiva intends to launch a bid to acquire the Company for CDN
Interim CEO, Tania Archer, commented, "It is too early to state if the Captiva Verde offer, as presented, holds sufficient merit for us to recommend shareholders accept the terms. As soon as the special committee has completed its review, we will inform the market as to our position in relation to the offer. We anticipate concluding our review within the next 48 hours."
Read Captiva Verde Announcement:https://www.newsfilecorp.com/release/93317/Captiva-Verde-Proposes-Acquisition-of-Binovi-Technologies-Corp
About Binovi Technologies Corp.
Binovi is a best-in-class neuro-visual performance platform designed to test, analyze, track, and report on individual cognitive performance. Binovi combines hardware, software, specialized expert knowledge, and unique data insights to deliver customized, one-on-one training and learning protocols ideal for K-12 Students, Vision Care Specialists, and Sports Performance testing and training. Designed for vision optimization and the enhancement of skills related to cognitive performance, Binovi provides measurable results in less time, and with greater efficiency.
For additional information please visit https://binovitouch.com/collections/all
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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/660026/Binovi-Technologies-Corp-Responds-to-Unsolicited-Captiva-Verde-Bid
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