VANCOUVER, June 27, 2017 /PRNewswire/ - Norsat
International Inc. ("Norsat" or "the Company") (TSX: NII and NYSE
MKT: NSAT), a provider of unique and customized communication
solutions for remote and challenging applications, today announced
that the previously announced transaction, pursuant to which Hytera
Communications Co., Ltd. ("Hytera") will indirectly acquire all of
the issued and outstanding shares of Norsat by way of a
court-approved plan of arrangement (the "Arrangement") was approved
today by a final order of the Supreme Court of British Columbia.
Completion of the Arrangement remains conditional on obtaining
regulatory approvals and certain other closing conditions. Assuming
that the conditions to closing are satisfied and the necessary
regulatory approvals are obtained, it is expected that the closing
of the Arrangement will be completed in the third quarter of
2017.
Further information about the Arrangement is set forth in the
information circular, supplemental information and proxy statement
in respect of the securityholders meeting which have been filed
with Canadian and United States
securities regulators and are available on SEDAR at www.sedar.com
and on EDGAR at www.sec.gov.
About Norsat International Inc.
Founded in 1977, Norsat International Inc. is a provider of
unique and customized communication solutions for remote and
challenging applications. Norsat's products and services include
leading-edge product design and development, production,
distribution and infield support and service of fly-away satellite
terminals, microwave components, antennas, Radio Frequency (RF)
conditioning products, maritime based satellite terminals and
remote network connectivity solutions. More information is
available at www.norsat.com, via email at investor@norsat.com or by
phone at 1-604-821-2800.
Forward Looking Statements
The discussion and analysis of this news release contains
forward-looking statements concerning anticipated developments in
Norsat's operations in future periods, the adequacy of its
financial resources and other events or conditions that may occur
in the future. Forward-looking statements are frequently, but not
always, identified by words such as "expects," "anticipates,"
"believes," "intends," "estimates", "predicts," "potential,"
"targeted," "plans," "possible" and similar expressions, or
statements that events, conditions or results "will," "may",
"could" or "should" occur or be achieved. These forward-looking
statements include, without limitation, statements about the
proposed acquisition by Hytera and the timing and possible outcome
of regulatory approvals in connection with the Arrangement.
Forward-looking statements are statements about the future and are
inherently uncertain, and actual achievements of the Company or
other future events or conditions may differ materially from those
reflected in the forward-looking statements due to a variety of
risks, uncertainties and other factors, such as business and
economic risks and uncertainties. The forward-looking statements
are based on the beliefs, expectations and opinions of management
on the date the statements are made. Consequently, all
forward-looking statements made in this news release are qualified
by this cautionary statement and there can be no assurance that
actual results or anticipated developments will be realized. For
the reasons set forth above, investors should not place undue
reliance on forward-looking statements. These forward-looking
statements are made as of the date of this news release and Norsat
assumes no obligation to update or revise them to reflect new
events or circumstances, other than as required by law.
SOURCE Norsat International Inc.