Wellteq Digital Health Inc. (CSE:WTEQ, OTCQB:WTEQF) announced that it has received authorization from the Supreme Court of British Columbia to hold a vote among its shareholders to move forward with its planned merger with Advanced Human Imaging Ltd.
The court issued an interim order that, among other things, authorizes a special meeting of Wellteq shareholders to vote upon a plan of arrangement that would see Wellteq acquired by AHI.
The meeting is scheduled to be held virtually at 8:30 am PT (11:30 am ET) on November 24, the company said.
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As previously announced, Wellteq said its shareholders will receive one ordinary share of AHI for every six Wellteq shares, or 0.1667 AHI shares for every 1 Wellteq share. AHI has also agreed to advance up to A$1,200,000 to Wellteq.
Australia-incorporated AHI has developed and patented a proprietary dimensioning technology that enables users to privately and accurately check, track, and assess their dimensions and body composition using only a smartphone. The company has expanded its capabilities with the inclusion of Transdermal Optical Imaging, allowing the capture of vital signs.
Wellteq is focused on coaching the world to better health. The company is working on developing personalized, prevention-focused solutions to engage people with healthier lifestyles, and reduce behavior-related healthcare spending.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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