MARKHAM, ONTARIO, March 29, 2021 – Sangoma Technologies Corporation (“Sangoma”) (TSXV: STC) is pleased to announce that at the special meeting of its shareholders held on March 29, 2021, the shareholders of Sangoma approved the arm’s length acquisition (the “Acquisition”) of all of the issued and outstanding shares of StarBlue Inc. (“StarBlue”) (the parent company of Star2Star Communications, LLC) and the creation of a new “Control Person” (as defined in the policies of the TSX Venture Exchange (“TSXV”)) of Sangoma, being Star2Star Holdings, LLC (“Star2Star”) and/or its largest shareholder Old Town Gelato, LLC (which is controlled by Norman A. Worthington, III, the Chief Executive Officer and Executive Chair of StarBlue).
The Acquisition was approved by 99% of the votes cast by the shareholders of Sangoma at the Meeting. Approximately 78% of the votes entitled to be cast at the Meeting based on Sangoma’s outstanding shares were voted at the Meeting.
Subject to completion of all remaining closing conditions set out in the Acquisition stock purchase agreement dated January 28, 2021, Sangoma expects the Acquisition to close on Wednesday, March 31, 2021.