/NOT FOR DISTRIBUTION IN THE UNITED STATES/
MONTREAL, Feb. 15, 2018 /CNW Telbec/ - Imvescor Restaurant Group Inc. (TSX: IRG) ("IRG" or the "Company") is pleased to announce that the Commissioner of Competition (the "Commissioner") has issued a "no-action" letter in connection with the previously announced amalgamation (the "Amalgamation") under Section 181 of the Canada Business Corporations Act involving IRG and a wholly-owned subsidiary of MTY Food Group Inc. ("MTY") to be implemented in accordance with the terms of the combination agreement dated December 11, 2017 (the "Combination Agreement") entered into between the Company and MTY.
The no-action letter confirms that the Commissioner does not intend to challenge the Amalgamation before the Competition Tribunal under the merger provisions of the Competition Act (Canada). The issuance of the no-action letter satisfies the regulatory approval condition contemplated in the Combination Agreement.
The transaction remains subject to the approval of the Amalgamation resolution by at least 662/3% of the votes to be cast by holders of common shares present in person or represented by proxy at the special meeting of shareholders to be held on February 19, 2018 and the satisfaction or waiver of other customary closing conditions. Further details regarding the Amalgamation are set out in the management information circular dated January 12, 2018 (the "Circular") which is available on the Company's website at www.imvescor.ca/investor-relations and on the Company's issuer profile at www.sedar.com.
ABOUT Imvescor Restaurant Group Inc.
IRG is primarily engaged in the business of franchising and developing a system of distinctive family/mid-scale dining, casual-dining and take-out and delivery restaurants serving high quality food. IRG's restaurants operate under the Pizza Delight®, Toujours Mikes, Scores®, Bâton Rouge® and Ben & Florentine® brands. IRG's business, which consists primarily of franchised restaurants and company-owned restaurants, including both take-out and sit-down restaurants licensed to serve alcohol, and also includes licensed retail products manufactured and sold by third parties under licence under the Pizza Delight®, Toujours Mikes, Scores® and Bâton Rouge® brands. IRG's network of restaurants are easily identified by the Pizza Delight®, Toujours Mikes, Scores®, Bâton Rouge® and Ben & Florentine® banners and have established a high recognition throughout the communities they each respectively serve.
| Our brands: |
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| Pizza Delight®: www.pizzadelight.com |
Scores®: www.scores.ca |
| Toujours Mikes: www.mikes.ca |
Bâton Rouge®: www.batonrouge.ca |
| Ben & Florentine®: http://benetflorentine.com |
SOURCE Imvescor Restaurant Group Inc.
Imvescor Restaurant Group Inc.: 514.341.5544, http://www.imvescor.ca; Shareholders: Kingsdale Advisors, 1-855-682-2023 toll-free in North America, 416-867-2272 outside of North America, Email: [email protected]; Media Relations: ACJ Communication - Daniel Granger 514.840.7990
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