Quorum Information Technologies Receives Shareholder Support for Proposed Arrangement and Announces Final Order Approving Arrangement

Executive Summary

• Quorum Information Technologies Inc. announced that shareholders approved a special resolution to effect a statutory plan of arrangement with Purchaser 2745122 Alberta Inc., an affiliate of Valsoft Corporation Inc.
• The Court of King's Bench of Alberta issued a final order approving the arrangement; closing is expected in early December 2025, subject to remaining conditions (including TSX‑V approval).
• The transaction involves the sale of all Quorum common shares held by shareholders (approximately 58.6 million shares, 79.55% of outstanding) to the Purchaser.

Key Details

• Shareholder Approval: 97.65% of votes cast were in favour; quorum represented 58,584,797 Common Shares (≈79.55% of issued and outstanding).
• Court Order: Final order from the Court of King's Bench of Alberta approving the arrangement was granted on the same day as the shareholder meeting.
• Transaction Structure: Statutory plan of arrangement under the Business Corporations Act (Alberta) between Quorum, its shareholders, and Purchaser 2745122 Alberta Inc. (Valsoft affiliate).
• Closing Conditions: Subject to satisfaction or waiver of remaining closing conditions in the arrangement agreement dated 22 Sept 2025, including final approval by the TSX Venture Exchange.
• Expected Closing Date: Anticipated for early December 2025; exact date not yet established.
• Impact: The arrangement will result in Quorum becoming a wholly‑owned subsidiary of Purchaser/Valsoft, effectively transferring ownership of all outstanding Quorum shares.

Notable Quotes

“We are pleased that our shareholders have overwhelmingly supported the Arrangement, and we look forward to completing this transaction which positions Quorum for continued growth under Valsoft’s strategic guidance.” – Maury Marks, President & CEO

Materiality Assessment: Material – Positive (the approved arrangement represents a significant corporate transaction likely to affect share ownership, governance, and future operations).