DOXA FILES INFORMATION CIRCULAR AND CONFIRMS MEETING DATE FOR PROPOSED REVERSE TAKEOVER BY PROSTAR
Further to Doxa Energy Ltd.’s press release dated Oct. 22, 2020, and its proposed acquisition of ProStar Geocorp Inc., “ProStar” the company has received the conditional approval of the TSX Venture Exchange for the transaction and has filed an information circular dated Nov. 16, 2020, in connection with the transaction for an upcoming meeting of the company’s shareholders to be held Dec. 17, 2020. The circular can be found under the company’s SEDAR profile.
The transaction and matters associated with the transaction, including a proposed consolidation of the company’s common shares on a one-new-for-17-old basis, the disposition of the company’s oil and gas assets and a debt settlement with the company’s related party creditors will be submitted to shareholders for approval at an annual and special general meeting to be held virtually on Dec. 17, 2020.
The transaction is expected to close shortly following the meeting and before Dec. 31, 2020, with Doxa changing its name to ProStar Holdings Inc. in connection therewith with trading in the company’s common shares recommencing in January, 2021, under a new trading symbol.
ProStar’s chief executive officer, Page Tucker, stated: “ Following a 40-per-cent-oversubscribed, financing last month, we are excited to announce the receipt of conditional TSX-V approval and the filing of the Doxa Information Circular. This is a major step towards realizing our listing on the TSX-V in early January.”
About ProStar Geocorp Inc.
ProStar is incorporated under the laws of the State of Delaware and is a software-as-a-service (SaaS) company that provides patented precision mapping solutions. ProStar’s flagship solution is PointMan, a natively cloud and mobile solution designed to capture, record and display the precise location of subsurface assets, including buried utilities and pipelines.
The Doxa shares continue to be halted from trading, and the trading of Doxa shares is expected to remain halted pending completion of the transaction.