Prodigy Ventures Inc. Announces Closing of Acquisition of ZoftNow Inc.

(TSXV: PGV)

TORONTO, Feb. 14, 2020 /CNW/ - Prodigy Ventures Inc. (TSXV: PGV) ("Prodigy" or the "Company") today announced the closing of the recently announced acquisition of ZoftNow Inc. ("ZoftNow") (see press release dated February 5, 2020). ZoftNow is a boutique consulting firm with practitioners & associates that have extensive experience & capabilities in both technology products and projects lifecycle from digital transformation assessments to successful ongoing maintenance programs.

Pursuant to the terms of the share purchase agreement, on closing the Company paid the vendors an aggregate cash payment of $411,010 (being the $450,000 cash portion of the purchase price reduced for certain closing adjustments) and has issued to the vendors an aggregate of 1,072,500 common shares in the capital of Prodigy. In addition, the Company will issue an additional 1,072,500 common shares on the second anniversary of the closing date (subject to the terms and conditions of the share purchase agreement). 

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

About Prodigy Ventures Inc.

Prodigy delivers Fintech innovation. The Company develops software and services with emerging technologies for digital transformation, identity and payments. Digital transformation services include strategy, architecture, design, project management, agile development, quality engineering and staff augmentation. Prodigy has been recognized as one of Canada's fastest growing companies with multiple awards: Deloitte's Fast 50 Canada and Fast 500 North America (2016, 2017, 2018), Branham 300 (2017, 2018), Growth 500 (2018 and 2019), Canada's Top Growing Companies (2019).

Forward-Looking Statements

Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company's Management's Discussion and Analysis for the three and nine months ended September 30, 2019, a copy of which is filed on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.

SOURCE Prodigy Ventures Inc.

Andrew Hilton, Prodigy Ventures Inc., Chief Financial Officer, [email protected], 416-606-8833