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SOURCE Atrium Innovations Inc.
MONTREAL, Feb. 10, 2014 /CNW Telbec/ - Atrium Innovations Inc. (TSX:ATB & ATB.DB) ("Atrium" or the "Corporation"), a globally recognized leader in the development, manufacturing and
commercialization of innovative, science-based natural health products,
is pleased to announce that pursuant to the terms of the Investment Canada Act, the Minister of Industry (the "Minister") has approved the previously announced plan of arrangement (the "Arrangement") providing for the acquisition of all of the outstanding common shares
of Atrium by corporations backed by the Permira funds and the
acquisition by the Corporation of all of its outstanding convertible
debentures. The Minister reviewed the Arrangement pursuant to the Investment Canada Act, and determined that it is of net benefit to Canada. In addition, the
Corporation has received clearance from the Ukrainian competition
authorities with respect to the Arrangement.
Completion of the Arrangement remains subject to the satisfaction or
waiver of certain other closing conditions customary in transactions of
this nature. Subject to their satisfaction or waiver, it is anticipated
that the Arrangement will be completed on February 13, 2014.
Atrium Innovations Inc. (TSX: ATB & ATB.DB) is a globally-recognized
leader in the development, manufacturing, and commercialization of
innovative, science-based natural health products which are distributed
in more than 35 countries. The Corporation owns healthcare practitioner
and specialized retail product brands that are at the forefront of
science, innovation and education. Atrium has over 1,300 employees and
operates seven manufacturing facilities with current Good Manufacturing
Practices. Additional information is available at www.atrium-innovations.com.
Cautionary Note and Forward-Looking Statements
This press release contains certain forward-looking statements with
respect to the Corporation and the Arrangement. These forward-looking
statements, by their nature, require the Corporation to make certain
assumptions and necessarily involve known and unknown risks and
uncertainties that could cause actual results to differ materially from
those expressed or implied in these forward-looking statements.
Forward-looking statements are not guarantees of performance. These
forward-looking statements, including financial outlooks, may involve,
but are not limited to, comments with respect to the Corporation's
business or financial objectives, its strategies or future actions, its
targets, expectations for financial condition or outlook for operations
and future contingent payments. Words such as "may", "will", "would",
"could", "expect", "believe", "plan", "anticipate", "intend",
"estimate", "continue", or the negative or comparable terminology, as
well as terms usually used in the future and the conditional, are
intended to identify forward-looking statements. Information contained
in forward-looking statements is based upon certain material
assumptions that were applied in drawing a conclusion or making a
forecast or projection, including management's perceptions of
historical trends, current conditions and expected future developments,
as well as other considerations that are believed to be appropriate in
the circumstances. The Corporation considers these assumptions to be
reasonable based on information currently available to it, but cautions
the reader that these assumptions regarding future events, many of
which are beyond its control, may ultimately prove to be incorrect
since they are subject to risks and uncertainties that affect the
Corporation and its business or the Arrangement.
For additional information with respect to these and other factors and
assumptions underlying the forward-looking statements made in this
press release, see the Corporation's quarterly and annual Management
Discussion and Analysis for the fiscal year ended December 31, 2012 and
the management information circular dated December 17, 2013 each filed
with the Canadian securities commissions. The forward-looking
information set forth herein reflects the Corporation's expectations as
at the date of this press release and is subject to change after such
date. The Corporation disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, other than as required by law.
©2012 PR Newswire. All Rights Reserved.