Date Closed

August 29, 2011

Lead Office

Vancouver

Value

11.28 Million CAD

On August 29, 2011, Icron Technologies Corporation ("Icron") announced that it has closed its previously announced plan of arrangement (the "Arrangement") with Pender Financial Group Corporation and 7895461 Canada Inc. 

The Arrangement was approved by Icron's shareholders at a meeting held on August 10, 2011, and approved by final order of the Supreme Court of British Columbia on August 12, 2011.

Under the Arrangement, 7895461 Canada Inc. acquired all of the issued and outstanding common shares of Icron in exchange for $0.53 in cash per share, for a total cash consideration of C$11.28 million.

Icron, headquartered in Burnaby, British Columbia, is an innovative leader in the development and manufacturing of high-performance video and USB extension solutions for commercial and industrial markets worldwide.

Pender Financial Group Corporation, headquartered in Vancouver, British Columbia, is an independent, employee-owned, value-based mutual fund company located in Vancouver.

McCarthy Tétrault LLP represented Pender Financial Group Corporation, the acquiror, with a team led by Cameron Belsher.