Alignvest Acquisition II Corporation Obtains Final Order for Qualifying Transaction With Sagicor Financial Corporation Limited

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TORONTO, May 28, 2019 (GLOBE NEWSWIRE) -- Alignvest Acquisition II Corporation (TSX: AQY.A, AQY.WT) (“” or the “”) is pleased to announce that, at a court hearing earlier today, it obtained the final order of the Ontario Superior Court of Justice for the Company’s previously announced proposed qualifying acquisition pursuant to the terms of the arrangement agreement (the “”) entered into between the Company and Sagicor Financial Corporation Limited (“”) dated November 27, 2018, as amended, and a plan of arrangement involving the Company under section 182 of the (Ontario), as amended (the “”).

The transactions contemplated in the Arrangement Agreement (the “”) are expected to be completed in Q3 2019.  Shortly after the closing date of the Transactions, the common shares to be issued under the Arrangement and the Company’s share purchase warrants are expected to be listed and posted for trading on the TSX under symbols “SFC” and “SFC.WT”, respectively.  The Company is also expected to be renamed “Sagicor Financial Company Ltd.” and continue under the laws of Bermuda.

Completion of the Transactions is subject to the approval of Sagicor’s shareholders, the Supreme Court of Bermuda and other customary approvals. There can be no assurance that the Transactions will be completed. 

Alignvest Acquisition II Corporation is a special purpose acquisition corporation incorporated under the laws of the Province of Ontario for the purposes of effecting a qualifying acquisition. AQY’s registered office is located at 100 King Street West, 70th Floor, Suite 7050, Toronto, Ontario M5X 1C7.

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Globe Newswire: 22:37 GMT Tuesday 28th May 2019

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