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Parvis Provides Clarifying Statements on Proposed Acquisition of Richmond Global Wealth
TMX Newsfile· 2026-03-04 02:28
Core Viewpoint - Parvis Invest Inc. is clarifying details regarding its proposed acquisition of Richmond Global Wealth Inc., emphasizing that the transaction is classified as a Non-Arm's Length Transaction and a related party transaction under applicable regulations [1][2][3]. Group 1: Transaction Nature - The acquisition is categorized as a Non-Arm's Length Transaction according to TSX Venture Exchange policies and a related party transaction under Multilateral Instrument 61-101 [2][3]. - Mr. Noah Murad, a director of Parvis, has an indirect ownership interest in RGW through Bluestar Equity Inc., making him a Non-Arm's Length Party in relation to Parvis [3]. Group 2: Voting and Approval Requirements - Mr. Murad and other Non-Arm's Length Parties will be excluded from voting on the resolution to approve the transaction [4]. - The required shareholder approval must be disinterested, meaning it must come from shareholders excluding those associated with Mr. Murad and other Non-Arm's Length Parties [5]. Group 3: Transaction Terms - All other terms and conditions of the transaction remain unchanged, and it is subject to customary closing conditions, regulatory approvals, and TSX Venture Exchange approval [6].