iPerceptions announces amalgamation with an affiliate of the XPND Fund

On March 16, 2012, iPerceptions Inc. (TSX-V: IPE) announced that its amalgamation with an affiliate of XPND Fund L.P. had been completed. Pursuant to the Amalgamation, each shareholder received one redeemable preferred share of the amalgamated company for each share held immediately prior to the amalgamation. Each such redeemable share was redeemed immediately upon the amalgamation for a cash consideration of $0.08. iPerceptions’ common shares were delisted from the TSX Venture Exchange. XPND Fund L.P. is a newly created growth capital fund located in Montreal and focusing on media, entertainment and technology companies. It is led by Alexandre Taillefer, a well-known serial entrepreneur who founded multiple successful companies in Montreal, including Nurun, Hexacto and Stingray Digital. XPND focuses on investing in established companies with a substantial market share in their specific market that can benefit from the expertise of XPND’s seasoned management in strategy, sales, finance and operations. Its partners are all Montreal-based private companies and individuals. XPND was advised in this transaction by Fasken Martineau with a team that included Michel Boislard, Frédéric Boucher and Caitlin Rose (corporate/securities); Gilles Carli (tax); and Jean-Nicolas Delage and Charles Lupien (intellectual property).