Converge Technology Solutions Corp. Receives Conditional Approval to Graduate to the Toronto Stock Exchange
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, BC and TORONTO, Nov. 19, 2020 /CNW/ - Converge Technology Solutions Corp. ("Converge" or the "Company") (TSXV: CTS) (FSE:0ZB) (OTCQX: CTSDF) is pleased to announce that it has received conditional approval from the Toronto Stock Exchange ("TSX") to graduate from the TSX Venture Exchange ("TSXV") to list the Company's common shares ("Common Shares") on the TSX.
"Converge has demonstrated impressive growth since its listing on the TSX Venture Exchange, and given the success and the size of the Company, it is a logical next step in our growth path to graduate to the TSX. Such a move creates an opportunity to increase our Company profile and liquidity," said Shaun Maine, CEO of Converge. "Additionally, graduating to a senior exchange should positively impact access to a broader range of institutional shareholders."
Final approval of the TSX listing is subject to Converge fulfilling certain standard and customary conditions required by the TSX on or before February 17th, 2021. Converge expects that it will satisfy all conditions in due course and will issue further communication upon final approval from the TSX. Upon satisfaction of these final listing requirements, the Common Shares will be delisted from the TSXV and commence trading on the TSX. The Common Shares will continue to trade under the stock symbol "CTS".
Converge Technology Solutions Corp. is a North American IT Solution Provider focused on delivering industry leading solutions and ervices. Converge's regional sales and services organizations deliver advanced analytics, cloud, cybersecurity, and managed services offerings to clients across various industries. The Company supports these solutions with talent expertise and digital infrastructure offerings across all major IT vendors in the marketplace. This multi-faceted approach enables Converge to address the unique business and technology requirements for all clients in the public and private sectors. For more information, visit convergetp.com.
This press release contains certain "forward–looking information" and "forward–looking statements" (collectively, "forward–looking statements") within the meaning of applicable Canadian securities legislation regarding Converge and its business. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could, "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward–looking statements. Forward–looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward–looking statements. These forward-looking statements include, but are not limited to, statements relating to the completion of the TSX listing, the satisfaction of final listing requirements, the receipt of final approval from the TSX and the timing of each of the foregoing. Except as required by law, Converge assumes no obligation to update the forward–looking statements of beliefs, opinions, projections, or other factors, should they change. The reader is cautioned not to place undue reliance on forward–looking statements. For a detailed description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's annual information form, which is available on SEDAR under the Company's profile at www.sedar.com, and the consolidated financial statements of the Company for the years ended December 31, 2019 and 2018, together with the corresponding Management's Discussion and Analysis for additional risk factors described under "Risks and Uncertainties". Neither the 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 Converge Technology Solutions Corp.
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