2012-12-19 20:27:02 -
MARKHAM, ONTARIO -- (Marketwire) -- 12/19/12 -- LOREX Technology Inc. (TSX VENTURE:LOX) ("LOREX") announced today that it has obtained final court approval from the Ontario Superior Court of Justice (Commercial List) of the previously announced proposed plan of arrangement (the "Arrangement"), pursuant to which FLIR Systems, Inc. will acquire all the issued and outstanding common shares of LOREX. The Arrangement was approved by LOREX's shareholders at the special meeting of shareholders held on December 13, 2012.
Full details of the Arrangement and certain other matters are set out in the management information circular of LOREX (the "Information Circular") dated November 12, 2012. A copy of the definitive agreement, the Information Circular, and other meeting materials can be found under LOREX's profile at www.sedar.com.
The Arrangement is expected to close on December 20, 2012.
This news release contains certain statements that may be deemed "forward-looking statements." Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements in this press release relate to LOREX's completion of the Arrangement. The forward-looking information reflects predictions and does not in any way reflect a guarantee. Factors which could cause actual results to differ materially from current projections include, among other things: the conditions in the definitive agreement not being satisfied prior to the outside date of the agreement including LOREX not obtaining approval of the TSX Venture Exchange. LOREX cautions that this is not an exhaustive list of factors that may affect the forward-looking information contained in this press release. Potential investors and readers are urged to give careful consideration to all of these factors in evaluating any forward-looking information and are cautioned not to place undue reliance on such information. While LOREX believes that its projections are reasonable, results predicted in this forward-looking information may differ materially from actual results. LOREX disclaims any obligation to update forward-looking information, except as may be required by law.
ABOUT LOREX TECHNOLOGY INC.
LOREX Technology Inc. provides businesses and consumers with leading edge video surveillance security solutions and sells its products under the LOREX and Digimerge brands. The LOREX brand, which caters to both small business and consumer markets, is available in thousands of retail locations across North America. The Digimerge division distributes its products through major distributors in North America. Both brands concentrate on the sale of wired, wireless and IP security surveillance and monitoring equipment including cameras, digital video recorders and all-in-one systems.
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.
LOREX Technology Inc.
Chief Financial Officer
(905) 946-8589, ext. 168 email@example.com