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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

INTEMA Announces That the Creditors Have Accepted the Proposal

February 25, 2019

MONTREAL--(BUSINESS WIRE)--Feb 25, 2019--Intema Solutions Inc. (“Intema” or the “Corporation”) (TSXV: ITM). The Corporation announces that the Proposal to Creditors filed under the Bankruptcy and Insolvency Act, Quebec superior court, by Intema Solutions Inc. was approved by the vast majority of creditors at the Creditors’ Meeting held at 11:00 am on February 22, 2019. Court ratification of the Proposal is expected sometime in the next weeks of March 2019.

The company presented a restructuring plan that reduces expenses mainly on the cost of rent, the cost of IT support and staff diminution.” While revenues have remained stable, total expenses were cut by 55%.

“I am excited to announce that the Creditors present at the Creditors Meeting in person and by proxy voted in favour of the Proposal submitted by Intema Solutions Inc. We are grateful to our Creditors for supporting us with our restructuring plan to build a stronger and more viable business” as stated Intema Solutions Inc., President & CEO.

The Proposal To Creditors is an important step in the restructuring efforts of Intema Solutions Inc. The acceptance of the Proposal today by the Creditors shows that they believe the restructuring plan is the right move for the future of the company.

About INTEMA SOLUTIONS Inc.

Intema’s mission is to integrate technologies to marketing. The company develops technologies for marketing and services related to predictive marketing, relationship marketing, database marketing and Block chain applications. Since its inception, INTEMA has dedicated its efforts to deliver key solutions to the marketing industry. Amongst its clients are companies of all sizes in North America. For more information, please visit our website at  www.intema.com

“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”

View source version on businesswire.com:https://www.businesswire.com/news/home/20190225005797/en/

INTEMA: Roger Plourde - +1-514-861-1881 —rplourde@intema.com

KEYWORD: NORTH AMERICA CANADA

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT MOBILE/WIRELESS PROFESSIONAL SERVICES FINANCE COMMUNICATIONS MARKETING

SOURCE: Intema Solutions Inc.

Copyright Business Wire 2019.

PUB: 02/25/2019 01:00 PM/DISC: 02/25/2019 01:01 PM

http://www.businesswire.com/news/home/20190225005797/en