DALLAS, June 30, 2021 / PRNewswire / – JC Data Solutions, Inc. (OTC: JCDS) announced today that its shareholders have approved the proposed merger with a subsidiary of TerraData.ai.
Approval of the merger required the approval of the majority of holders of voting shares in JCDS in circulation. Approximately 59% of the ordinary shares outstanding as of the reporting date (including the preference shares based on the conversion) of JCDS were put to the vote at the extraordinary general meeting. Of the shares sold, around 59% voted in favor of the merger and less than 1% against the merger. JCDS shareholders also voted to approve the notice of change, which was a condition for the merger to complete.
After completion of the merger, JCDS shareholders (with the exception of JCDS shareholders who have properly exercised their right of objection and assessment) will receive $ 0.0012 in cash for each JCDS common share and JCDS becomes a private, wholly-owned subsidiary of TerraData.ai. The transaction is expected to close on July 6, 2021.
About JC Data Solutions
JC Data Solutions is a leader in the fund and document distribution industry. Their world-class service, Payment Manager, has saved oil and gas companies thousands and thousands of dollars – while improving and streamlining their fund distribution process.
About TerraData.ai
Mineral Answers, Inc. (DBA TerraData.ai) is a technology company focused on aggregating real estate information to provide models, insights, and highly configurable visualizations, specializing in real estate, oil & gas, and alternative energy information.
Forward-Looking Statements
This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those that contain terms such as “may”, “will”, “expect”, “believe”, “intend”, “should”, “could”, “foresee”, “estimate”, “predict”, “” Project, “plan,” “forecast,” “potential,” and similar expressions. The forward-looking statements contained in this and other written and oral reports are based on assumptions and estimates made by management in the light of past experience and trends, current conditions, and expected future developments and other relevant factors.
The company’s forward-looking statements are subject to risks and uncertainties and are not guarantees of future performance, and actual results, developments and business decisions could differ materially from those anticipated in these forward-looking statements. These risks and uncertainties include but are not limited to the occurrence of events, changes or other circumstances that could result in the termination of the Merger Agreement; the outcome of legal proceedings that may be initiated against the Company in connection with the Merger Agreement; the inability to complete the Transaction because the required vote has not been obtained or other conditions for the completion of the Transaction have not been met, including obtaining all regulatory approvals related to the Transaction; the interruption of management’s attention to the day-to-day business of the company as a result of the transaction; the impact of the announcement of the transaction on the company’s relationships with its customers, results of operations and business in general; the impact of local and national economic, credit and capital market conditions. Factors or events that could cause actual company results to differ could occur from time to time and it is impossible for the company to predict all of them. The statements made herein apply as of the date of this disclosure and the company assumes no obligation to update them as a result of new information, future developments or for any other reason.
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SOURCE JC Data Solutions
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