January 23, 2018 8:28 PM ET

Internet Software and Services

Company Overview of ZipLocal Inc.

Company Overview

ZipLocal Inc. does not have significant operations. The company intends to explore new business opportunities. Previously, the company was engaged in online listing advertising. ZipLocal Inc. is headquartered in Toronto, Canada. As of July 7, 2017, ZipLocal Inc. operates as a subsidiary of Intercap Inc.

17 Prince Arthur Avenue

1st Floor

Toronto, ON M5R 1B2

Canada

Key Executives for ZipLocal Inc.

Interim Chief Executive Officer and Director
Interim Chief Financial Officer
Vice President and General Manager of LocaLeads
Compensation as of Fiscal Year 2017.

ZipLocal Inc. Key Developments

ZipLocal Shares Delisted From NEX Board Of TSX Venture Exchange

Intercap Inc. (Intercap) and ZipLocal Inc. (ZipLocal) announced that Intercap has acquired all of the outstanding common shares of ZipLocal (ZipLocal Share) not acquired under Intercap's take-over bid made on May 19, 2017 pursuant to the compulsory acquisition provisions of the Business Corporations Act (Ontario). With the completion of the compulsory acquisition, the ZipLocal Shares have been de-listed from the NEX Board of the TSX Venture Exchange as of the close of trading on August 18, 2017 and ZipLocal has ceased to be a reporting issuer under Canadian securities laws as of August 21, 2017.

ZipLocal Inc. To Be Delisted From The NEX, Effective At The Close Of Business On Aug. 18, 2017

Effective at the close of business on Aug. 18, 2017, the common shares of ZipLocal Inc. will be delisted from the NEX. The delisting of the company's shares results from Intercap Inc. acquiring 100% of the company's issued and outstanding common shares pursuant to an offer to purchase dated May 19, 2017, and as amended by a notice of extension.

Intercap Intends To Have The ZipLocal Shares De-Listed From The NEX Board Of TSX Venture Exchange

Intercap Inc. (Intercap) and ZipLocal Inc. announced that Intercap has mailed a notice of compulsory acquisition (Notice of Compulsory Acquisition) to the remaining holders of common shares (ZipLocal Shares) of ZipLocal. Following Intercap's offer to acquire all of the ZipLocal Shares, Intercap owns approximately 90.9% of the issued and outstanding ZipLocal Shares. Since Intercap's offer was accepted by holders of more than 90% of the ZipLocal Shares, Intercap is now exercising its right under the compulsory acquisition provisions of the Business Corporations Act (Ontario) to acquire all outstanding ZipLocal Shares not already owned by it on the basis of (i) cash equal to $0.0035 for each ZipLocal Share, or (ii) one non-voting redeemable (on a non-pro rata basis) preferred share of Intercap for each ZipLocal Share, all of which Intercap preferred shares, if issued, will be redeemed at a redemption price equal to $0.0035 concurrently with, or immediately following, the completion of the compulsory acquisition. Intercap intends to have the ZipLocal Shares de-listed from the NEX Board of the TSX Venture Exchange and to cause ZipLocal to cease to be a reporting issuer upon completion of the compulsory acquisition.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 19, 2017
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