Helijet International Inc. (TSX-V: HJI) (“Helijet” or the “Corporation”) further to the Corporation’s news release dated April 18, 2019, the Corporation announces that it has entered into an arrangement agreement dated May 15, 2019 with Danny Sitnam (the “Purchaser”), the Corporation’s President and Chief Executive Officer (the “Arrangement Agreement”) whereby the Corporation will effect a going private transaction through a statutory plan of arrangement under Section 192(1)(f.1) of the Canada Business Corporations Act, (the “Arrangement”). Approximately 88% of the common shares of Helijet are held by insiders and their extended family and one other extended family (the “Non Participating Shareholders”). Pursuant to the Arrangement Agreement, Mr. Sitnam will acquire the remaining 12% of the common shares held by public shareholders.
To read the full media release, please click the following: Helijet Enters Into Definitive Agreement For Going Private Transaction (pdf)
