TELUS Acquisition Plan approved by Ontario Superior Court
TORONTO, May 28, 2013 /CNW/ – Data & Audio-Visual Enterprises Holdings
Inc. and its affiliates (collectively, Mobilicity) announced today that the Acquisition Plan under the terms of the
Interim Order of the Ontario Superior Court of Justice (Commercial
List) dated Friday, April 26, 2013 (the TELUS Acquisition Plan) has been approved by the Court. The TELUS Acquisition Plan was approved
by debtholders on Thursday, May 23, 2013 and remains subject to the
satisfaction of certain regulatory approvals.
Stewart Lyons, Mobilicity President and Chief Operating Officer, said,
“The Court approval of the Plan of Arrangement for the TELUS
acquisition marks an important milestone for us. We will continue to
work with TELUS to expedite the approval process of an acquisition that
is in the best interests of our customers, employees and other
With Court approval of the TELUS Acquisition Plan and the positive
result of the May 23, 2013 debtholder vote, the TELUS Acquisition Plan
remains the best way forward for Mobilicity.
For more information on the TELUS Acquisition Plan, please visit
Mobilicity’s website at www.mobilicity.ca/investorrelations.
About Mobilicity (DAVE Wireless):
Formerly known as Data & Audio-Visual Enterprises Wireless Inc. (DAVE
Wireless), the company operated as Mobilicity. Mobilicity is a wireless
carrier that provides wireless telecommunication services to Canadians
in Toronto, Ottawa, Calgary, Edmonton and Vancouver. Further
information about Mobilicity can be found at www.mobilicity.ca.