Melrose Ventures Initiates Takeover Bid for Hank Payments Corp

Melrose Ventures, a Florida-based investment firm, has announced a takeover bid for Hank Payments Corp. The initiative aims to acquire a controlling interest in the company by purchasing sufficient common shares to exceed a 51% stake. The bid commenced on November 2, 2024, and will expire on December 31, 2024. The offered consideration stands at CAD $0.09 per share, payable in cash.

The takeover seeks to bring back the founders to rejuvenate Hank Payments and enhance its market value. Melrose Ventures' existing direct and indirect shareholding totals approximately 20.53%. The offer underscores due diligence requirements, particularly regarding control share quantities and recent public statements on Hank Payments' financial health.

No prior agreements exist between Melrose Ventures and the current directors or security holders of Hank Payments. Payment will be issued upon acceptance and closure of the offer. The bid has been officially approved and disseminated under the guidance of Melrose Ventures.