Shareholders Vote in Favour of the Acquisition of Geekco Technologies

LAVAL, Quebec, July 28, 2020 (GLOBE NEWSWIRE) — Woden Venture Capital Corporation (WOD.H). (the “Company” or “Woden”) is proud to announce that at the annual and special meeting of the shareholders held on July 27, 2020, its shareholders voted in favor of the acquisition of Geekco Technologies Inc. and the concurrent financing (100%). The shareholders also approved, by the required majority, a change of name to Corporation Geekco Technologies / Geekco Technologies Corporation, the consolidation (4 to 1) of the issued and outstanding Class “A” shares of the Company (the “Common Sharesˮ), the approval of the stock option plan and the grant of stock options, as provided in the Information Circular. The Company’s Management is confident in finalizing the acquisition transaction and the concomitant private placement within the next 30 days. The acquisition and placement remain subject to final approval by the TSX Venture Exchange.
On this occasion, the shareholders also elected the following directors by majority vote and ratified the director’s predecessors’ election and prior acts: Sylvain Aird, André Bergeron, Nadira Hajjar, Henri Harland and Daniel Perry. In addition, the shareholders appointed Raymond Chabot Grant Thornton LLP as auditors of the Corporation and ratified the appointment of their predecessor.Since the press release of June 27, 2020, the only significant events affecting the Company’s activities are those described above. The Company therefore continues to avail itself of the exemption to delay the filing of its first quarter interim filings and still expects to file its interim filings on or around August 12, 2020.Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable, disinterested shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading the securities of Geekco should be considered highly speculative.The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.For more information, please contact: