GT HOLDINGS CORP. ANNOUNCES DECLARATION OF DIVIDEND
TORONTO, ONTARIO, Sept. 01, 2023 (GLOBE NEWSWIRE) — GT Holdings Corp. (the “Company”) today announced that it has declared a dividend in the aggregate amount of C$986,366 (the “Dividend”) on its class B non-voting common shares (the “Non-Voting Shares”). The Non-Voting Shares were distributed to the former shareholders of Globalive Technology Inc. through a plan of arrangement on February 10, 2021 as a preliminary step in the reverse takeover transaction between Globalive Technology Inc. and Yooma Corp.
The Dividend amounts to $0.13/share, will be payable to the holders of the Non-Voting Shares as at the close of business today and will be paid on September 18, 2023. The entire amount of the Dividend has been designated as an “eligible dividend” under Section 89 of the Income Tax Act (Canada).
ABOUT GT HOLDINGS CORP.
GT Holdings Corp. is a holding company that maintains the investment assets and liabilities spun-out of Globalive Technology Inc. on February 10, 2021. Globalive Technology Inc. was a software company and venture partner that focused on developing and investing in innovative solutions to disrupt traditional industries.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements relating to the Company and its plans to pay the Dividend. Such forward-looking statements are identified by terms such as “will” and similar expressions. All statements, other than statements of historical fact included in this release, including those noted above, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include administrative, legal or other delays in arranging for payment of the Dividend and other risks which are beyond the control of the Company.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The Company cannot guarantee that any of the forward-looking statements contained in this press release will occur as disclosed herein or at all. The reader is cautioned not to place undue reliance on any forward-looking information.
Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly the included forward-looking statements as expressly required by Canadian securities law.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Chief Corporate Officer