Carebook Technologies Secures Court Approval for Acquisition

MONTREAL, Feb. 20, 2025 /CNW/ – Carebook Technologies Inc. (“Carebook” or the “Company“) CRBK, a notable Canadian digital health solutions provider, has announced that the Ontario Superior Court of Justice (Commercial List) granted a final order approving the statutory plan of arrangement with UIL Limited (“UIL” or the “Purchaser“). This agreement involves UIL acquiring all common shares issued by the Company, except for those already held by UIL or its affiliates, for C$0.10 per share. This arrangement agreement was established on January 2, 2025, and was first announced on January 3, 2025, with shareholder approval received on February 18, 2025.

The completion of the arrangement is scheduled for around February 24, 2025, pending the fulfillment of standard closing conditions.

Forward-Looking Information

This press release includes “forward-looking information” and “forward-looking statements” as defined by applicable securities laws. This information pertains to objectives, strategies to achieve those goals, and statements regarding management’s beliefs and plans. Such future-oriented statements may use terms like “expects”, “estimates”, or “anticipates” to denote their nature. These statements point to anticipated future events, results, or conditions that are not historical facts. They include the closing of the arrangement and the necessary closing conditions.

Potential risks and uncertainties related to the arrangement include challenges completing it on the expected terms and timing, potential impacts on the common share price, and possible disruptions within Carebook due to this uncertainty. Additionally, the pursuit of the arrangement may divert management’s focus away from the Company’s day-to-day operations. Other risks outlined in Carebook’s securities filings may also come into play.

While management seeks to outline important risks, there may be other currently unknown factors that could impact actual outcomes. These forward-looking statements are not guarantees of future results and reflect the Company’s expectations as of the release date, with the possibility of changes occurring thereafter. Carebook does not commit to updating this forward-looking information beyond what is required by Canadian securities laws.

This announcement is meant for information purposes only and does not constitute an offer to buy or sell any securities of Carebook.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

About Carebook Technologies

Carebook’s digital health platform enables over 5.0 million members to manage their health journeys effectively. In 2021, the Company acquired InfoTech Inc., known for health and productivity risk management, and CoreHealth Technologies Inc., which offers a leading wellness platform. Together, these acquisitions form a comprehensive digital health resource with robust assessment tools and solutions. Carebook’s Common Shares are traded on the TSXV under the symbol “CRBK”.

SOURCE Carebook Technologies Inc.

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