Katima Mulilo Urban Constituency Councillor Kennedy Simasiku says there are issues that require the Katima Mulilo Town Council (KMTC) to urgently engage the public.
This should be done through information sharing sessions where clarity must be provided and where necessary, decisions made for the good of both parties, said Simasiku in an interview with Nampa, following the public demonstration recently in which residents of Katima called for the removal of Redforce and brought up other issues related to the town council.
Simasiku told Nampa that an invitation was extended to KMTC to join the Constituency to engage and resolve some of the pressing issues the communities are faced with. One such issue is Redforce, a debt collection agency appointed by the council, and the issue of interest charged on outstanding municipal accounts.
‘We fully support the idea that, where qualifying pensioners deserve a rebate or specific treatment due to them being senior citizens, they ought not to be forced to pay amounts t
hey cannot afford in comparison to their living wages. The issue of invoicing dates must be corrected and conveniently sequenced to both parties but importantly, properly communicated to the community for clarity. And finally, under normal circumstances, the burden of recovery should not be entirely dumped on the end user considering the current economic circumstances our country is faced with, and one would hope that such a condition in the contract can be renegotiated or be noted for correction in future. These suggestions were made to KMTC by our office too,’ Simasiku stated.
At the public demonstration two weeks ago, demonstrators called for the closure of Redforce and removal of the KMTC councillors and its chief executive officer. The demonstrators charged that the current town council leadership has failed the masses in delivering proper services. They recited water shortages, poor services and corruption as some of the factors that are forcing them to demand for the removal of the team.
The petition
was handed over to Katima Mulilo Town Council Mayor Lister Shamalaza, who promised speedy feedback. Full feedback is expected to be delivered on Sunday when the whole council will be present, including CEO Raphael Liswaniso.
The Namibia Diamond Trading Company (NDTC) on Thursday here, donated N.dollars 200 000 to the Brave Gladiators to support the team towards their hygiene and sanitary needs while on international duties.
The sponsorship was announced by NDTC CEO Brent Eiseb, who said that the company is committed to empowering and uplifting Namibian ambassadors who put the country on the global map.
‘Women’s football in Namibia is one of the least financially supported sport codes, impacting its growth and the performance of the national team. Our investment in women’s football is not just about scoring goals but also about inspiring the next generation of female athletes in Namibia,’ he said.
Eiseb added that the Brave Gladiators’ victories resonate far beyond the pitch and echo in the hearts of every Namibian, instilling a sense of national pride that transcends borders.
‘By sponsoring the Namibia Women’s National Football Team, we are investing in the dreams and aspirations of these athletes who are not merely players
but also trailblazers, and breaking barriers,’ Eiseb said.
The sponsorship of N.dollars 200 000 was used to support the team’s hygiene and sanitary products, with N.dollars 20 000 allocated to this purpose. The remaining amount was shared among the 34-member squad that represented the country in the Olympic qualifiers and African Nations Cup qualifiers from August to October 2023.
Eiseb stated that the women players’ achievements in the field of play should be celebrated like the diamonds they are, also ensuring that their dreams and aspirations are not only valid but also realised.
LONDON and HOUSTON and SINGAPORE, Nov. 15, 2023 (GLOBE NEWSWIRE) — Methane remains a significant challenge for the oil and gas industry. COP28 could prove a landmark moment for methane reduction commitments, and companies and governments will need to take strong steps to reduce emissions and enforce new standards, according to a new Horizons report from Wood Mackenzie.
Methane is responsible for almost a third of the emissions-induced increase in global temperatures since the start of the industrial era and the oil and gas industry is estimated to account for up to a quarter of human-caused (anthropogenic) methane emissions, according to the report Mission invisible: tackling the oil and gas industry’s methane challenge.
According to Wood Mackenzie’s Emissions Benchmarking Tool, typical methane losses per field are small — less than 500 kilogram per hour (around 0.65 million cubic feet per day), which is below the measurable resolution of most current satellites — but around 96% of all fields have emissions on this scale, making it a large, cumulative problem. More significant emissions from larger fields are often spread across multiple production facilities, making them harder to quantify.
Government role
According to the report, government action will be vital to reduction efforts, with three high-level actions that can stimulate progress:
Greater ambition. Implementable and enforceable policy would be a positive start, such as global collaboration on stopping all large-scale flaring and venting.
Consistent enforcement. Policymakers and regulators must collaborate with industry to set realistic targets and timelines for emission reductions while ensuring that fees and fines are levied appropriately and loopholes are closed.
Financial support for technology. Governments can support funding to improve both measurement technology and abatement solutions. For example, as part of the US Inflation Reduction Act (IRA) US$350 million in funding is available to monitor and reduce methane emissions.
About Wood Mackenzie
Wood Mackenzie is the global insight business for renewables, energy and natural resources. Driven by data. Powered by people. In the middle of an energy revolution, businesses and governments need reliable and actionable insight to lead the transition to a sustainable future. That’s why we cover the entire supply chain with unparalleled breadth and depth, backed by over 50 years’ experience in natural resources. Today, our team of over 2,000 experts operate across 30 global locations, inspiring customers’ decisions through real-time analytics, consultancy, events and thought leadership. Together, we deliver the insight they need to separate risk from opportunity and make bold decisions when it matters most. For more information, visit woodmac.com.
LONDON and HOUSTON and SINGAPORE, Nov. 15, 2023 (GLOBE NEWSWIRE) — Methane remains a significant challenge for the oil and gas industry. COP28 could prove a landmark moment for methane reduction commitments, and companies and governments will need to take strong steps to reduce emissions and enforce new standards, according to a new Horizons report from Wood Mackenzie.
Methane is responsible for almost a third of the emissions-induced increase in global temperatures since the start of the industrial era and the oil and gas industry is estimated to account for up to a quarter of human-caused (anthropogenic) methane emissions, according to the report Mission invisible: tackling the oil and gas industry’s methane challenge.
According to Wood Mackenzie’s Emissions Benchmarking Tool, typical methane losses per field are small — less than 500 kilogram per hour (around 0.65 million cubic feet per day), which is below the measurable resolution of most current satellites — but around 96% of all fields have emissions on this scale, making it a large, cumulative problem. More significant emissions from larger fields are often spread across multiple production facilities, making them harder to quantify.
Government role
According to the report, government action will be vital to reduction efforts, with three high-level actions that can stimulate progress:
Greater ambition. Implementable and enforceable policy would be a positive start, such as global collaboration on stopping all large-scale flaring and venting.
Consistent enforcement. Policymakers and regulators must collaborate with industry to set realistic targets and timelines for emission reductions while ensuring that fees and fines are levied appropriately and loopholes are closed.
Financial support for technology. Governments can support funding to improve both measurement technology and abatement solutions. For example, as part of the US Inflation Reduction Act (IRA) US$350 million in funding is available to monitor and reduce methane emissions.
About Wood Mackenzie
Wood Mackenzie is the global insight business for renewables, energy and natural resources. Driven by data. Powered by people. In the middle of an energy revolution, businesses and governments need reliable and actionable insight to lead the transition to a sustainable future. That’s why we cover the entire supply chain with unparalleled breadth and depth, backed by over 50 years’ experience in natural resources. Today, our team of over 2,000 experts operate across 30 global locations, inspiring customers’ decisions through real-time analytics, consultancy, events and thought leadership. Together, we deliver the insight they need to separate risk from opportunity and make bold decisions when it matters most. For more information, visit woodmac.com.
QUEBEC CITY, Canadá, Nov. 15, 2023 (GLOBE NEWSWIRE) — A LeddarTech®, uma empresa de software automotivo que fornece tecnologia patenteada de software de fusão e percepção de sensores de baixo nível para ADAS e AD, tem orgulho de anunciar a nomeação do Sr. Chris Stewart como Diretor Financeiro (“CFO”).
Como CFO da LeddarTech, o Sr. Stewart será fundamental para apoiar a LeddarTech na conclusão da recém-anunciada fusão com a Prospector Capital Corp. e na transição para uma empresa de capital aberto.
O Sr. Stewart tem mais de 20 anos de experiência em gestão financeira em empresas que vão desde startups a grandes empresas públicas. O Sr. Stewart atuou anteriormente como Diretor Financeiro da Bionano Genomics Inc. (NASDAQ: BNGO) de setembro de 2020 até ingressar na LeddarTech em novembro de 2023, Chefe da Maxwell Ultracapacitors da Tesla Inc. (NASDAQ: TSLA) de maio de 2019 a julho de 2020 e como Vice-Presidente de Finanças e Tecnologia da Informação da Maxwell Technologies Inc., uma empresa pública de armazenamento de energia, de julho de 2015 a maio de 2019, momento em que a empresa foi adquirida pela Tesla. Além disso, o Sr. Stewart ocupou vários cargos de liderança, incluindo Vice-Presidente de Finanças da Entropic Communications e Diretor Financeiro da V-ENABLE Inc. (atualmente GroundTruth), líder em publicidade móvel direcionada.
O Sr. Stewart recebeu é formado em Administração de Empresas pela University of Southern California e fez Mestrado em Administração Industrial na Carnegie Mellon University.
“Estou muito feliz em entrar para uma empresa tão visionária e trabalhar ao lado dos funcionários da LeddarTech em um momento tão emocionante”, disse Stewart. “Espero ansiosamente a formação de formidáveis alianças em todos os níveis, inclusive com os acionistas da LeddarTech e seu conselho de administração e equipe de liderança, e o apoio a LeddarTech durante a conclusão da fusão das empresas para poder operar como uma empresa de capital aberto. Estou muito empolgado com as conquistas da LeddarTech e estou pronto para ajudá-la a alcançar todo o seu potencial.”
O Sr. Charles Boulanger, CEO da LeddarTech, comentou: “Estou muito contente com a entrada de Chris para a equipe executiva da LeddarTech como Diretor Financeiro”. Como executivo financeiro de talento e com vasta experiência em liderar e otimizar as operações financeiras de várias organizações, Chris tem um forte histórico de gerenciamento e transformação de funções financeiras que impulsionam a lucratividade e o crescimento. O conjunto de habilidades de Chris se alinha perfeitamente com os objetivos estratégicos da LeddarTech.”
LeddarTech Inc. (“LeddarTech”) e Prospector Capital Corp. (“Prospector”) (NASDAQ: PRSR, PRSRU, PRSRW), uma empresa com isenção das Ilhas Caimã liderada pelo ex-Presidente da Qualcomm, Derek Aberle, e presidida pelo ex-Vice-Presidente da Qualcomm, Steve Altman, entraram em um acordo definitivo de fusão das empresas que, quando concluída, a LeddarTech passa a ser uma empresa de capital aberto. Após a conclusão da transação, prevista para o quarto trimestre de 2023, a nova empresa conjunta, LeddarTech Holdings Inc. (“Newco”), deverá ser listada na NASDAQ sob o símbolo “LDTC”.
Sobre a LeddarTech
Uma empresa global de software fundada em 2007 e sediada na cidade de Quebec, com centros adicionais de P&D em Montreal, Toronto e Tel Aviv, Israel, a LeddarTech desenvolve e fornece soluções abrangentes de software de percepção que permitem a implantação de aplicações ADAS e de condução autônoma (AD). O software de nível automotivo da LeddarTech aplica algoritmos avançados de IA e visão computacional para gerar modelos 3D precisos do ambiente, permitindo uma melhor tomada de decisão e navegação mais segura. Esta tecnologia de alto desempenho, escalonável e econômica é disponível para OEMs e fornecedores de Nível 1-2 para a implementação eficiente de soluções ADAS para veículos automotivos e off-road.
A LeddarTech é responsável por várias inovações de sensor remoto, com mais de 150 patentes solicitadas (80 concedidas) que aprimoram os recursos de ADAS e AD. A percepção de veículos é fundamental para tornar a mobilidade global mais segura, eficiente, sustentável e acessível: e é por isso que a LeddarTech deseja se tornar a solução de software de fusão e percepção de sensores mais amplamente adotada.
A Prospector é uma empresa de aquisição com finalidade especial criada com a finalidade de realizar fusão, troca de ações, aquisição de ativos, compra de ações, reorganização ou fusão de empresas semelhante com uma ou mais empresas, com foco em empresas com soluções avançadas e altamente diferenciadas para o setor de tecnologia. A empresa é liderada por uma equipe de investidores e executivos experientes focados em identificar e investir em empresas de alto crescimento, com equipes de gerenciamento fortes e oportunidades de mercado atraentes. Os títulos da Prospector são negociados na NASDAQ sob os símbolos “PRSR”, “PRSRU” e “PRSRW”.
Informações Importantes Sobre a Transação Proposta e Onde Encontrá-la
Em conexão com a proposta fusão das empresas, a Prospector, a LeddarTech e a Newco irão preparar e protocolar a Declaração de Registro na SEC no Formulário F-4 (a “Declaração de Registro”), e a Prospector irá enviar as procurações/prospecto da Declaração de Registro para seus acionistas e protocolar outros documentos sobre a fusão da empresa na SEC. Este comunicado à imprensa não substitui nenhuma procuração, declaração de registro, declaração/prospecto de procuração ou outros documentos que a Prospector ou a Newco possam protocolar na SEC em conexão com a fusão das empresas. OS INVESTIDORES E DETENTORES DE VALORES MOBILIÁRIOS DEVEM LER ATENTAMENTE E NA ÍNTEGRA A DECLARAÇÃO DE REGISTRO QUANDO DISPONÍVEL, QUAISQUER ALTERAÇÕES OU SUPLEMENTOS À DECLARAÇÃO DE REGISTRO E OUTROS DOCUMENTOS PROTOCOLADOS PELO PROSPECTOR OU PELA NEWCO NA SEC EM CONEXÃO COM A FUSÃO DA EMPRESA PORQUE ESSES DOCUMENTOS CONTERÃO INFORMAÇÕES IMPORTANTES. Investidores e detentores de valores mobiliários poderão obter cópias gratuitas da Declaração de Registro e outros documentos protocolados na SEC pela Prospector ou pela Newco no website da SEC em www.sec.gov.
Declarações de Previsão
Certas declarações contidas neste comunicado de imprensa podem ser consideradas declarações de previsão na acepção da Lei de Reforma de Litígios de Títulos Privados dos EUA de 1995, Seção 27A da Lei de Títulos e Valores Mobiliários e Seção 21E da Lei de Câmbio (cujas declarações de previsão também devem incluir declarações de previsão e informações de previsão na acepção das leis de valores mobiliários canadenses aplicáveis), incluindo, mas não se limitando a, declarações sobre a fusão de empresas envolvendo a Prospector, a LeddarTech e a Newco, a capacidade de concluir a fusão das empresas e a sua ocasião, os benefícios previstos da fusão das empresas, o fechamento do financiamento de colocação privada, as receitas e declarações previstas relacionadas à estratégia antecipada da Newco, operações futuras, perspectivas, objetivos e projeções financeiras e outras métricas financeiras. As declarações de previsão geralmente incluem declarações de natureza preditiva e dependem ou se referem a eventos ou condições futuras, e incluem palavras como “pode”, “irá”, “deveria”, “esperaria”, “antecipa”, “planeja”, “provável”, “acredita”, “estima”, “projeta”, “pretende e outras expressões semelhantes, entre outras. Declarações que não sejam de fatos históricos são declarações de previsão. Declarações de previsão tomam por base convicções e suposições atuais sujeitas a riscos e incertezas e não são garantias de desempenho futuro. Os resultados reais podem ser substancialmente diferentes dos resultados contidos em qualquer declaração de previsão devido a vários fatores, incluindo, sem limitação: (i) o risco de que as condições para o fechamento da fusão das empresas não sejam satisfeitas, incluindo a falha em obter a aprovação dos acionistas em tempo hábil ou obter a aprovação dos acionistas para a fusão das empresas ou a falha em obter quaisquer autorizações regulatórias necessárias e em tempo hábil, incluindo do Superior Tribunal de Justiça do Quebec; (ii) incertezas quanto ao momento da consumação da fusão das empresas e a capacidade da Prospector, da LeddarTech e da Newco de concluir a fusão das empresas; (iii) a possibilidade de que outros benefícios antecipados da fusão das empresas não sejam realizados e o tratamento fiscal antecipado da fusão das empresas; (iv) a ocorrência de qualquer evento que possa dar origem à rescisão da fusão das empresas; (v) o risco de que o litígio dos acionistas em conexão com a fusão das empresas ou outros acordos ou investigações possa afetar o momento ou a ocorrência da fusão das empresas ou resultar em custos significativos de defesa, indenização e responsabilidade; (vi) mudanças gerais na economia e/ou condições específicas do setor; (vii) possíveis interrupções da fusão das empresas que poderiam prejudicar os negócios da LeddarTech; (viii) a capacidade da LeddarTech de reter, atrair e contratar pessoal-chave; (ix) possíveis reações adversas ou mudanças nas relações com clientes, funcionários, fornecedores ou outras partes resultantes do anúncio ou conclusão da fusão das empresas; (x) potencial incerteza nos negócios, incluindo mudanças nas relações comerciais existentes durante a pendência da fusão das empresas que possam afetar o desempenho financeiro da LeddarTech; (xi) desenvolvimentos legislativos, regulatórios e econômicos; (xii) imprevisibilidade e gravidade de eventos catastróficos, incluindo, mas não se limitando a, atos de terrorismo, eclosão de guerra ou hostilidades, e qualquer epidemia, pandemia ou surto de doença (incluindo COVID-19), bem como a resposta da administração a qualquer um dos fatores mencionados acima; (xiii) acesso a capital e financiamentos e a capacidade da LeddarTech estar em conformidade com os acordos de dívidas; e (xiv) outros fatores de risco, detalhados ocasionalmente nos relatórios da Prospector protocolados na SEC, incluindo o Relatório Anual da Prospector no Formulário 10-K, Relatórios Trimestrais periódicos no Formulário 10-Q, Relatórios Atuais periódicos no Formulário 8-K e outros documentos protocolados na SEC, bem como os fatores de risco mencionados da Declaração de Registro. A lista anterior de fatores importantes não é exaustiva. Nem a Prospector nem a LeddarTech podem dar qualquer garantia de que as condições para a fusão das empresas serão satisfeitas. Exceto conforme exigido pela lei aplicável, nem a Prospector nem a LeddarTech assumem qualquer obrigação de revisar ou atualizar qualquer declaração de previsão, ou de fazer quaisquer outras declarações de previsão, seja como resultado de novas informações, eventos futuros ou de outra forma.
Sem Oferta ou Solicitação
Este comunicado à imprensa não constitui uma oferta de venda nem uma solicitação de uma oferta de compra de qualquer título mobiliário da Prospector ou da Newco, uma solicitação de qualquer voto ou aprovação, nem deverá haver qualquer venda desses valores mobiliários em qualquer estado ou outra jurisdição onde tal oferta, venda ou solicitação seja ilegal antes do registro ou qualificação sob as leis de valores mobiliários de qualquer estado ou jurisdição. Nenhuma oferta de valores mobiliários será feita, exceto por meio de um prospecto que atenda aos requisitos da Seção 10 da Lei de Valores Mobiliários de 1933, alterada (Lei de Valores Mobiliários).
Participantes da Solicitação
A Prospector, a LeddarTech, a Newco, e alguns dos seus respectivos diretores, executivos e funcionários, podem ser considerados participantes da solicitação de procurações em conexão com a fusão das empresas. Informações sobre os diretores e diretores executivos da Prospector podem ser encontradas no Relatório Anual no Formulário 10-K do exercício fiscal encerrado em 31 de dezembro de 2022, protocolado na SEC em 31 de março de 2023. As informações sobre as pessoas que podem, de acordo com as regras da SEC, ser consideradas participantes na solicitação de procurações em conexão com a fusão das empresas, incluindo uma descrição dos seus interesses diretos ou indiretos, por participações em títulos ou de outra forma, serão incluídas na Declaração de Registro e outros materiais relevantes quando protocolados na SEC. Esses documentos podem ser obtidos gratuitamente na fonte indicada acima.
Contato:
Daniel Aitken, Vice-Presidente, Marketing Global, Comunicações e Relacionamento com o Investidor, LeddarTech Inc. Tel.: + 1-418-653-9000 ramal 232 [email protected]
Contato de Relações com Investidores: Kevin Hunt, ICR Inc. [email protected]
Contato para mídia financeira: Dan Brennan, ICR Inc. [email protected]
Os logotipos Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision e afins são marcas comerciais ou marcas comerciais registradas da LeddarTech Inc. e suas subsidiárias. Todas as outras marcas e nomes de produtos são ou podem ser marcas comerciais ou marcas comerciais registradas usadas para identificar produtos ou serviços de seus respectivos proprietários.
QUEBEC CITY, Canada, Nov. 15, 2023 (GLOBE NEWSWIRE) — LeddarTech®, an automotive software company that provides patented disruptive low-level sensor fusion and perception software technology for ADAS and AD, proudly announces the appointment of Mr. Chris Stewart as Chief Financial Officer (“CFO”).
As CFO at LeddarTech, Mr. Stewart will be instrumental in supporting LeddarTech in completing its recently announced business combination with Prospector Capital Corp. and transitioning to a publicly traded company.
Mr. Stewart has over 20 years of financial management experience at companies ranging from startups to large public companies. Mr. Stewart previously served as the Chief Financial Officer of Bionano Genomics Inc. (NASDAQ: BNGO) from September 2020 until joining LeddarTech in November 2023, Head of Maxwell Ultracapacitors at Tesla Inc. (NASDAQ: TSLA) from May 2019 to July 2020 and as Vice President of Finance and Information Technology at Maxwell Technologies Inc., a public energy storage company, from July 2015 to May 2019, at which time the company was acquired by Tesla. In addition, Mr. Stewart held multiple leadership roles, including Vice President of Finance at Entropic Communications and Chief Financial Officer of V-ENABLE Inc. (currently GroundTruth), a leader in targeted mobile advertising.
Mr. Stewart received his B.S. in Business Administration from the University of Southern California and his M.S. in Industrial Administration from Carnegie Mellon University.
“I am thrilled to join such a visionary company and work alongside LeddarTech’s employees at such an exciting time,” stated Mr. Stewart. “I eagerly anticipate forging formidable alliances at all levels, including with LeddarTech’s shareholders and its board of directors and leadership team, and support LeddarTech as it works toward completing its business combination and operating as a publicly traded company. I am extremely energized by LeddarTech’s accomplishments and look forward to helping it realize all of its potential.”
Mr. Charles Boulanger, CEO of LeddarTech, commented: “I am very pleased that Chris has joined the executive team of LeddarTech as Chief Financial Officer. As an accomplished financial executive with extensive experience in leading and optimizing the financial operations of various organizations, Chris has a strong track record of managing and transforming financial functions to drive profitability and growth. Chris’s skill set perfectly aligns with LeddarTech’s strategic goals.”
LeddarTech Inc. (“LeddarTech”) and Prospector Capital Corp. (“Prospector”) (NASDAQ: PRSR, PRSRU, PRSRW), a Cayman Islands exempted company led by former Qualcomm President Derek Aberle and chaired by former Qualcomm Vice Chairman Steve Altman, are party to a definitive business combination agreement that, upon completion of the business combination, would result in LeddarTech becoming a publicly listed company. Upon closing of the transaction, which is expected during the fourth quarter of 2023, the combined company formed through the business combination, LeddarTech Holdings Inc. (“Newco”), is expected to be listed on NASDAQ under the ticker symbol “LDTC.”
About LeddarTech
A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal, Toronto and Tel Aviv, Israel, LeddarTech develops and provides comprehensive perception software solutions that enable the deployment of ADAS and autonomous driving (AD) applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment, allowing for better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.
LeddarTech is responsible for several remote-sensing innovations, with over 150 patent applications (80 granted) that enhance ADAS and AD capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.
Prospector is a special-purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses with a focus on companies with advanced and highly differentiated solutions for the technology sector. The company is led by a team of experienced investors and executives focused on identifying and investing in high-growth companies with strong management teams and attractive market opportunities. Prospector’s securities are traded on NASDAQ under the ticker symbols “PRSR,” “PRSRU” and “PRSRW.”
Important Information About the Proposed Transaction and Where to Find It
In connection with the proposed business combination, Prospector, LeddarTech and Newco will prepare and will file with the SEC the registration statement on Form F-4 (the “Registration Statement”), and Prospector will mail the proxy statement/prospectus contained within the Registration Statement to its shareholders and file other documents regarding the business combination with the SEC. This press release is not a substitute for any proxy statement, registration statement, proxy statement/prospectus or other documents Prospector or Newco may file with the SEC in connection with the business combination. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE REGISTRATION STATEMENT WHEN IT BECOMES AVAILABLE, ANY AMENDMENTS OR SUPPLEMENTS TO THE REGISTRATION STATEMENT AND OTHER DOCUMENTS FILED BY PROSPECTOR OR NEWCO WITH THE SEC IN CONNECTION WITH THE BUSINESS COMBINATION, BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of the Registration Statement and other documents filed with the SEC by Prospector or Newco through the website maintained by the SEC at www.sec.gov.
Forward-Looking Statements
Certain statements contained in this press release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act and Section 21E of the Exchange Act (which forward-looking statements shall also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements regarding the business combination involving Prospector, LeddarTech and Newco, the ability to consummate the business combination and the timing thereof, the anticipated benefits from the business combination, the closing of the private placement financing and expected proceeds therefrom and statements relating to Newco’s anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) the risk that the conditions to the closing of the business combination are not satisfied, including the failure to timely or at all obtain shareholder approval for the business combination or the failure to timely or at all obtain any required regulatory clearances, including of the Superior Court of Justice of Québec; (ii) uncertainties as to the timing of the consummation of the business combination and the ability of each of Prospector, LeddarTech and Newco to consummate the business combination; (iii) the possibility that other anticipated benefits of the business combination will not be realized, and the anticipated tax treatment of the business combination; (iv) the occurrence of any event that could give rise to termination of the business combination; (v) the risk that shareholder litigation in connection with the business combination or other settlements or investigations may affect the timing or occurrence of the business combination or result in significant costs of defense, indemnification and liability; (vi) changes in general economic and/or industry-specific conditions; (vii) possible disruptions from the business combination that could harm LeddarTech’s business; (viii) the ability of LeddarTech to retain, attract and hire key personnel; (ix) potential adverse reactions or changes to relationships with customers, employees, suppliers or other parties resulting from the announcement or completion of the business combination; (x) potential business uncertainty, including changes to existing business relationships, during the pendency of the business combination that could affect LeddarTech’s financial performance; (xi) legislative, regulatory and economic developments; (xii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities and any epidemic, pandemic or disease outbreak (including COVID-19), as well as management’s response to any of the aforementioned factors; (xiii) access to capital and financing and LeddarTech’s ability to maintain compliance with debt covenants; and (xiv) other risk factors as detailed from time to time in Prospector’s reports filed with the SEC, including Prospector’s Annual Report on Form 10-K, periodic Quarterly Reports on Form 10-Q, periodic Current Reports on Form 8-K and other documents filed with the SEC, as well as the risk factors to be contained in the Registration Statement. The foregoing list of important factors is not exhaustive. Neither Prospector nor LeddarTech can give any assurance that the conditions to the business combination will be satisfied. Except as required by applicable law, neither Prospector nor LeddarTech undertakes any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
No Offer or Solicitation
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Prospector or Newco, a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the “Securities Act”).
Participants in Solicitation
Prospector, LeddarTech and Newco, and certain of their respective directors, executive officers and employees, may be deemed to be participants in the solicitation of proxies in connection with the business combination. Information about the directors and executive officers of Prospector can be found in the Annual Report on Form 10-K for the fiscal year ended December 31, 2022, which was filed with the SEC on March 31, 2023. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of proxies in connection with the business combination, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the Registration Statement and other relevant materials when they are filed with the SEC. These documents can be obtained free of charge from the source indicated above.
Contact:
Daniel Aitken, Vice-President, Global Marketing, Communications and Investor Relations, LeddarTech Inc. Tel.: + 1-418-653-9000 ext. 232 [email protected]
Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
