TrueContext Completes Plan of Arrangement

OTTAWA, May 16, 2024 (GLOBE NEWSWIRE) -- TrueContext Corporation (“TrueContext” or the “Company”) (TSXV:TCXT), a global leader in field intelligence, is pleased to announce the completion of the previously announced plan of arrangement under the Business Corporations Act (Ontario) pursuant to which 1000827877 Ontario Inc. (the “Purchaser”), an entity controlled by Battery Ventures (“Battery”), has acquired all of the issued and outstanding common shares of the Company (the “Shares”) at a price of $1.07 in cash per Share (the “Transaction”).

With the completion of the Transaction, the Shares are expected to be delisted from the TSX Venture Exchange (the “TSXV”) at the close of trading today and it is anticipated that TrueContext will cease to be a reporting issuer under applicable Canadian securities laws.

Shareholders who have questions or require assistance submitting their Shares in connection with the Transaction may direct their questions to TSX Trust Company, who is acting as depositary in connection with the Transaction, by phone at the toll free number 1-866-600-5869 (within North America) or 1-416-342-1091 (outside North America) or by email at [e-mail].

For more information on the Transaction, please see the news releases issued by TrueContext on March 13, 2024 and May 8, 2024 along with the Company’s management information circular dated April 8, 2024 prepared in connection with the Transaction, all of which are available under the Company’s SEDAR+ profile at www.sedarplus.ca and on the Company’s website at www.TrueContext.com.

Early Warning Reporting

Following completion of the Arrangement, the Purchaser has beneficial ownership and control over 100% of the issued and outstanding Shares. Prior to the closing of the Transaction, the Purchaser held no Shares.

This news release is being issued, in part, pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers which requires an early warning report to be filed under TrueContext’s profile on SEDAR+ (www.sedarplus.ca) containing additional information respecting the foregoing matters. Further information and a copy of the early warning report may be obtained by contacting Rebecca Buckman, Marketing Partner of Battery, 2882 Sand Hill Road, Suite 280, Menlo Park, CA 94025, telephone: [phone].