Tags:
, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

iLOOKABOUT Corp. Announces Conversion of Unpaid Dividends to Common Shares

LONDON, ONTARIO– iLOOKABOUT Corp. (TSX VENTURE:ILA) (“iLOOKABOUT” or “the Company”) announced today that, subject to the approval of the TSX Venture Exchange, the Company will issue 99,482 Common Shares to settle $19,897 of accrued dividends on its Series 1 Preference Shares (the “Preference Shares”). In March 2012, the Company issued 750,000 Preference Shares by way of a private placement. The Preference Shares provide for settlement of unpaid dividends by the issuance of the Company’s common shares instead of cash at the option of the holder. iLOOKABOUT has received notices to convert unpaid dividends totaling $19,897 from twelve Preference Share holders, seven of which are currently insiders of the Company. The dividend conversion rate is the aggregate amount of accrued dividends to be converted, divided by the market price of the Company’s common shares on the business day before such conversion right is exercised. The closing market price of the Company’s common shares on March 31, 2014 was $0.20, representing the closing market price on December 18, 2013, being the date that the Company’s common shares were halted from trading due to the Company’s announcement of a proposed business combination transaction.

About iLOOKABOUT

iLOOKABOUT is a visual and data intelligence company serving commercial enterprise in the real estate, insurance, municipal, utility, assessment and appraisal sectors in North America and Europe. iLOOKABOUT is a pioneer in visual and data intelligence with its StreetScape™ and Virtual Tour products. StreetScape is a visual and data intelligence product for the geo-spatial market, providing panoramic, comprehensive, street level perspective visual data, geo-coded with latitude and longitude coordinates for accuracy and supported by patented software processes and proprietary security and storage systems. The Company has also launched GeoViewPort™, a web-based Geographic Information System (GIS) application that enables the federation of additional value added data such as validated addresses, aerial imagery, property values, property attributes, etc. with StreetScape imagery. Headquartered in London, Ontario, Canada, iLOOKABOUT’s common shares are traded on the TSX Venture Exchange under the symbol ILA.

Contact Information

iLOOKABOUT Corp.
Robin Dyson
CFO
1.866.963.2015
robin.dyson@ilookabout.com
www.ilookabout.com

Have Something to Add? Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Articles

The “New” GoGeomatics Canada: Relaunching Our Magazine

A team of really intelligent squirrels and I have been working on the new GoGeomatics magazine. I’m taking a break…

A Canadian Geographer’s Notes from Nunavut

For the last five years, I have annually had the opportunity to spend time in Iqaluit, Canada’s fastest growing community in Canada’s fastest growing territory or province. On arrival, I check out the selection of new books at Arctic Ventures and the screening of new movies about the North. This year, there was the chance to see John Walker’s Passage and to buy a copy of Darrel Varga’s book of the same name in the Canadian Cinema series.

Google Earth Engine – What is a Data Cube and Why Canadians Should Care

What is a data cube and how is it used for big data analytics?  How does a data cube work…