Banneker Partners, LLC completed the acquisition of HS GovTech Solutions Inc. (CNSX:HS).
The transaction is subject to court approval, to applicable regulatory approvals, approval from HS GovTech security holders. The special committee and HS GovTech board have unanimously approved the transaction. As of November 9, 2023, The special committee comprised of directors of HS GovTech and a board of directors of HS GovTech. The transaction is expected to close in late November, 2023. As of November 17, 2023, final approval from the Supreme Court of British Columbia is received and the transaction is now expected to close on or around November 22, 2023.
Echelon acted as a financial advisor and fairness opinion provider to HS GovTech and the Special Committee. Sasa Jarvis of McMillan LLP acted as legal counsel to HS GovTech, Jared Bachynsk of Stikeman Elliott LLP, David Ruff, Zac Padgett, Eugene Clark-Herrera, Derek Jones, Eric Wall, Kelly D. Newsome, Jason D. Flaherty, Daniel Yost, Elizabeth Zane and Dolph Hellman of Orrick Herrington & Sutcliffe LLP acted as legal counsels to Banneker Partners, and Wildeboer Dellelce LLP acted as counsel to Echelon Capital Markets.
Banneker Partners, LLC completed the acquisition of HS GovTech Solutions Inc. (CNSX:HS) on November 22, 2023. With the completion of the Arrangement, the Shares will be delisted from the Canadian Securities Exchange on November 22, 2023 and from the OTC and the Frankfurt Stock Exchange shortly thereafter. HS GovTech Solutions will apply to cease to be a reporting issuer under applicable Canadian securities laws after its Shares have been delisted.