MONTREAL, Feb. 10, 2014 /CNW Telbec/ – Atrium Innovations Inc. (TSX:ATB & ATB.DB) (“Atrium” or the “Corporation”), a globally recognized leader in the development, manufacturing and commercialization of innovative, science-based natural health products, is pleased to announce that pursuant to the terms of the Investment Canada Act, the Minister of Industry (the “Minister”) has approved the previously announced plan of arrangement (the “Arrangement”) providing for the acquisition of all of the outstanding common shares of Atrium by corporations backed by the Permira funds and the acquisition by the Corporation of all of its outstanding convertible debentures. The Minister reviewed the Arrangement pursuant to the Investment Canada Act, and determined that it is of net benefit to Canada. In addition, the Corporation has received clearance from the Ukrainian competition authorities with respect to the Arrangement.
Completion of the Arrangement remains subject to the satisfaction or waiver of certain other closing conditions customary in transactions of this nature. Subject to their satisfaction or waiver, it is anticipated that the Arrangement will be completed on February13, 2014.