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Marvel Discovery Corp. Provides Update On Spinout Transaction Marvel Discovery Corp. (TSX-V:MARV), (Frankfurt:O4T1), (OTC PINK:IMTFF); (
Marvel or the
Company ). Further to the Company s news releases of March 17, 2021 and April 23, 2021, the Company is pleased to announce that it has obtained a final order from the Supreme Court of British Columbia approving the previously announced plan of arrangement under sections 288 and 291 of the
Business Corporations Act (British Columbia) (the
Arrangement ) involving Power One Resources Corp. (
Power One ).
The Company and Power One anticipate implementing the Arrangement on or about May 13, 2021. Holders of Marvel shares as of the close of business on May 7, 2021 will be entitled to receive one common share in the capital of Power One (each, a Power One Share ) for every five common shares held in the Company. Power One will also issue 5,000,000 Power One Shares to Marvel pursuant to the Arrangement.