|By Marketwired .||
|July 22, 2014 12:00 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 07/22/14 -- Way Ventures Inc. ("Way Ventures") (TSX VENTURE:WAY.P), a Capital Pool Company, is pleased to announce that it has received conditional approval from the TSX Venture Exchange (the "Exchange") for completion of its qualifying transaction, as previously announced on September 10, 2013 and as updated on April 14, 2014, with UGE Holdings Limited ("UGE") and has filed its final prospectus in respect of the qualifying transaction on Way Ventures' profile at www.sedar.com. Way Ventures and UGE will complete a business combination (the "Transaction") whereby all of the issued and outstanding securities of UGE will be exchanged for securities of Way Ventures. The Transaction is intended to constitute the Qualifying Transaction of Way Ventures as such term is defined in Policy 2.4 of the Corporate Finance Manual of the Exchange. Upon closing of the Transaction, Way Ventures will change its name to "UGE International Ltd.", and it is anticipated that shortly after closing, common shares of Way Ventures will resume trading on the Exchange under the ticker symbol "UG."
The Transaction is currently scheduled to close on or about July 28, 2014, or such other date as the parties may agree to.
Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance. 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 prospectus, 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 in the securities of a capital pool company 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 press release.
An agreement to sponsor should not be construed as any assurance with respect to the merits of the transaction or the likelihood of completion.
Way Ventures Inc.
President, Secretary and Director
UGE Holdings Limited
Chief Financial Officer
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