Walter Capital Partners closes $22M privatization of Ergoresearch

Walter Capital Partners Inc., in partnership with Sylvain Boucher and Danielle Boucher, has completed previously announced privatization of Ergoresearch Ltd. (TSX-V: ERG) for aggregate value of approximately $22 million.

Shareholders, other than the management shareholders, received, for each common share of ERG held prior to the transaction, one redeemable preferred share of the new corporation resulting from the transaction and immediately after their issuance, each redeemable preferred share was redeemed for $0.30 in cash.

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photo credit: Ergoresearch Ltd.

News Release

Ergoresearch Announces Closing of Going Private Transaction

LAVAL, QC, Feb. 23, 2018 /CNW Telbec/ – Ergoresearch Ltd. (“ERG” or the “Corporation”) (TSXV: ERG), a Quebec-based company in the design and manufacturing of cutting edge technology for intelligent orthotics, medical devices and software in the orthopedic industry, is pleased to announce that the Corporation has closed its previously announced going private transaction (the “Transaction”) by amalgamating with a company controlled by Walter Capital Partners Inc. in partnership with Sylvain Boucher and Danielle Boucher (together, the “Management Shareholders”)

Pursuant to the Transaction, which was effected today under the Canada Business Corporations Act, shareholders (other than the Management Shareholders) received, for each common share of ERG held prior to the Transaction, one redeemable preferred share of the new corporation resulting from the Transaction and immediately after their issuance, each redeemable preferred share was redeemed for $0.30 in cash.

An application has been made to delist the common shares of the Corporation from the TSX Venture Exchange. It is expected that the common shares will be delisted on or about February 27, 2018 and an application has been made to cease to be a reporting issuer under applicable provincial securities laws.

About Ergoresearch

Ergoresearch is a Canadian company that designs and manufactures cutting edge technologies for the orthopedic industry. The Corporation is a trend-setter in creating custom orthotics and speciality orthotics for the orthopedics market and holds a portfolio of patents in the orthopedics field and in human bionics. The mission of our banner “Équilibre orthèses et biomécanique” is to keep people active and moving. “ÉQUILIBRE”, driven by its proprietary technologies and the expertise of its professionals, offers a range of products, treatments and services in order to relieve pain, restore motor function and optimize performance.

About Walter Capital Partners

Walter Capital Partners Inc. (“Walter Capital”) is a private equity firm and part of Walter Financial and the Walter Group. Walter Capital invests capital and know-how in established small and medium-sized businesses to help accelerate their growth. Drawing on the entrepreneurial values of the Walter Group and the business leadership expertise of its managing partners, Walter Capital offers solutions that are above and beyond purely financial transactions. Headquartered in Montreal, Walter Capital provides a solid international network.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Ergoresearch Ltd

For further information: Sylvain Boucher, President and CEO, Ergoresearch Ltd., Tel.: 450-973-6700, ext. 213, sboucher@ergoresearch.com

Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal and CanadaMetals.ca, and former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA). Ted was the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, the most sophisticated and advanced all private capital and public market financing database.