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Seek shareholder approval at the Annual and Special Meeting on June 17, 2022
San Francisco, Calif . — (Newsfile Corp. – May 19, 2022) – Noble Hierro Inc. (TSXV: NIR) (“Noble Hierro”, or the “Company”), in addition to its press release of April 18, 2022, is pleased to provide an update on the sale of the shares of the company’s operating subsidiary, systematic Computer Services Corporation (“systematic”) through its wholly-owned subsidiary, RentOnThe Dot, Inc. (“ROTD”) and all assets of Noble Iron Australia’s subsidiary, Texada Software Pty Limited (the “Australia Provider”), which jointly operate the Company’s Texada Software business (the “Business Software”) at one hundred percent subsidiaries of Banneker Partners (“Banneker”), a U. S. -based personal equity fund based (collectively, the “Transaction”) for a total value of $37,200,000 acquisition (the “Purchase Price”).
As announced in the April 18, 2022 press release, as part of the transaction, Noble Iron will invest $4,200,000 of the value of the acquisition in sets of BP Tex Parent, LP (“BP Tex LP”), a Delaware personal limited partnership created through Banneker to acquire the software business. It was anticipated that BP Tex LP could make additional acquisitions to expand the combined business; however, at that time, BP TEX had not made any acquisitions and Noble Iron’s investment was to constitute 10% of BP Tex LP’s notable shares. Since that date, BP Tex LP has completed an acquisition and, as a result, Noble Iron is now expected to make up 7. 4% of the outstanding sets, assuming BP Tex LP does not make any acquisition other than the acquisition of the software company. If additional acquisitions are made, before or after the final touch of the transaction, Noble Iron’s investment may be more diluted.
Noble Le fer is also pleased to announce that it has convened its annual shareholders’ meeting for June 17, 2022. At the Meeting, in addition to the Annual General Meeting of Business Shareholders, you will be invited to review and, where appropriate, approve the Transaction in accordance with the policies of TSX Venture Exchange (the “TSXV”). Shareholders will also be required to review and approve certain adjustments to the Company’s inventory options plan as a component of TSXV’s revised value-based redemption policies.
Nabil Kassam, Founder, Chairman and Chief Executive Officer of Noble Iron, said: “We are very pleased with this enriching transaction for shareholders. If the transaction is approved, the board of directors will compare the characteristics to return the capital to the shareholders. All such functions will be subject to obtaining corporate, stock exchange and tax advice, and will be subject to obtaining all required approvals from shareholders, regulators and the TSXV. There can be no guarantee that those features will be implemented through the Company.
Further data will be found in the Company’s control data circular to be mailed to shareholders and will be found in the Company’s profile in www. SEDAR. com.
About Noble Iron Inc.
Noble Iron is a generation company that supplies software programs to construction, commercial and equipment rental companies, homeowners and users to manage the lifecycle of their companies and assets.
Texada Software, a wholly owned subsidiary of Noble Iron, offers cloud-based or customer-based software programs for equipment rental companies, equipment distributors, construction companies, general contractors and equipment operators, as well as mechanics, logistics managers and service technicians. Texada’s products manage the entire life cycle of the assets, adding the acquisition of devices; rental and sale transactions; Tracking of stock location, use, maintenance and depreciation; investigation of sales and disposals of second-hand appliances; and stock replenishment research. Texas is the provider of Fleetlogic’s state-of-the-art technology, a cellular platform for checkout service and logistics control; SRM (Systematic Rental Management), a control software to scale rental companies; Texada Pay, a payment processing platform; and GateWay, an online store and mobile e-commerce app for consumers and sales teams. For more information, visit www. texadasoftware. com or call 1(800) 361-1233.
Noble Iron can be contacted at www. nobleiron. com/contact-us.
Corporate Communications Contacts: Mariam Chaudhry CFO: (226) 962-2718: mariam. chaudhry@nobleiron. com
Nabil KassamFounder, President and CEO t: (650) 766-9177e: nabil@nobleiron. com
About Banneker Partners
Banneker Partners invests in fast-growing critical software corporations to create long-term sustainable pricing, and has raised more than $700 million in committed capital in its funds. Banneker Partners’ investment strategy is to collaborate with control groups across the financial, strategic and operational areas to enable accelerated expansion driven through a focus on getting a better price for the software’s end customers. Banneker Partners is in full competition with Noble Iron, its major shareholders and subsidiaries.
Cautionary Note On Forward-Looking Statements
This news release may include forward-looking statements that reflect the Company’s existing expectations regarding long-term events. Often, though not always, forward-looking statements are referred to by words such as “seek,” “anticipate,” “plan,” “estimate,” “expect,” “intend” and statements that an occasion or result ” possibly”, “will”, “will deserve”, “may also just” or “could” happen or be achieved and other similar expressions. The forecast and estimates involve known and unknown hazards, uncertainties, and other items that could possibly cause actual effects to differ materially from those expressed or implied by the data and forward-looking data, and readers accordingly do not deserve to place a reliance on them. wrong in said data. and data data. Dangers and uncertainties come with the Company’s ability to offload regulatory, TSX Venture Exchange or shareholder approval for the transaction, and the ability of dealers and buyers to comply with all SPA, PPP and similar documents. In addition, the fact that the Company evaluates the characteristics of return of capital to shareholders is prospective; there is no assurance that the Company will exercise such an option, which is subject to dangers and uncertainties, as well as the receipt of all required regulatory, TSXV and shareholder approvals. Commercial software is subject to risk, adding to the difficulty of predicting the acceptance and demand for new products, the impact of competitors’ products and pricing methods, delays in the progression and launch of new products, fluctuations in operational effects and other hazards, each of which may also cause actual effects, functionality or achievements to differ materially from effects discussed or implied by prospective products. Many hazards are inherent in the business in which the Company is engaged; others are more express to the Company. The Company’s existing quarterly documents are worth consulting for more information on the dangers and uncertainties related to future projections. Investors deserve not to place undue confidence in forward-looking companies. Management assumes no legal responsibility to update or adjust forward-looking data, whether as a result of new data, occasion or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulatory Service Provider (as that term is in TSX Venture Exchange’s policies) accepts responsibility for the adequacy or accuracy of this release.
To view the original edition of this press release, visit https://www. newsfilecorp. com/release/124631