Product

Solutions

Pricing

Resources

close

Product

Solutions

Pricing

Resources

west

Why TrueContext

Field Service App Platform

Adapt, automate, and transform your field operation

Advanced Automation

Double the productivity, half the effort

Connected Data

Break down data silos across your business

Enterprise-Grade Services

Digitization at speed and at scale

Compliance & Security

A platform that meets your IT requirements

Capabilities

Workflow Creation

Built for complex field environments

Mobile App

Equip your teams anywhere and in any language

Reporting & Analytics

Visibility now, predictability for tomorrow

west

Use Cases

Installation

More assets in less time with guided workflows

Maintenance & Repair

Improve asset uptime with predictive maintenance

Inspections & Compliance

Optimize your operational excellence

Environment, Health & Safety

Protect workers, the public, and the environment

Industries

Industrial Equipment

Power asset performance and human safety

Medical Equipment

Precision for sophisticated instrumentation

Oil & Gas

Operational excellence across the energy stream

Field Service

Break new ground in productivity, quality, and safety

Use Case Spotlight

west

Explore

Customer Stories

TrueContext applied in enterprise environments

Ratings & Reviews

What customers say about us

Events

Explore emerging trends with us at upcoming events

Blog

Stories and insights from the field

Learn

Knowledge Base

Answers to the most common product questions

Product Documentation

TrueContext features, usage, and technical details

TrueContext University

Hands-on training to optimize your deployment

Resource Library

Content for your industry and application

Connect

Community

Collaborate with industry peers

Contact Support

Having trouble? Ask our product support team

Talk to Sales

See how TrueContext can help your business

TrueContext Announces Shareholder Approval of Plan of Arrangement

99.99% of Votes Cast by Shareholders Voted in Favour of Transaction with Battery Ventures

OTTAWA, ON – May 8, 2024 – TrueContext Corporation (“TrueContext” or the “Company”) (TSXV:TCXT), a global leader in field intelligence, is pleased to announce that at its special meeting (“Meeting”) of shareholders of the Company (the “Shareholders”) held today, the Shareholders voted to approve the previously announced plan of arrangement under the Business Corporations Act (Ontario) pursuant to which an entity controlled by Battery Ventures will acquire all of the issued and outstanding common shares of the Company (the “Shares”) at a price of $1.07 in cash per Share (the “Transaction”).

The Transaction required approval by the affirmative vote of (i) at least two thirds of the votes cast by Shareholders voting together as a single class; and (ii) a simple majority of the votes cast by Shareholders voting together as a single class, excluding votes attached to Shares required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”), in each case present or represented by proxy at the Meeting.

Of the votes cast at the Meeting with respect to the Transaction, an aggregate of 109,638,282 Shares were voted in favour of the Transaction, representing approximately 99.99% of the votes cast on the special resolution approving the Transaction. In addition, an aggregate of 95,835,560 Shares, representing approximately 99.99% of the votes cast by holders of Shares, excluding those votes attached to those Shares required to be excluded pursuant to MI 61-101, were voted in favourof the special resolution approving the Transaction.

The Transaction remains subject to certain customary closing conditions, including the issuance of a final order by the Ontario Superior Court of Justice (Commercial List) (the “Court”) to approve the Transaction following the hearing expected to be held on May 13, 2024. If the Court approval is obtained and the other conditions to the closing of the Transaction are satisfied or waived, the Transaction is expected to be completed on or about May 16, 2024. It is anticipated that the Shares will be delisted from the TSX Venture Exchange (the “TSXV”) on or about May 16, 2024. Following completion of the Transaction, the Company will cease to be a reporting issuer under applicable Canadian securities laws.

Shareholders who have questions or require assistance submitting their Shares in connection with the Transaction may direct their questions to TSX Trust Company, who is acting as depositary in connection with the Transaction, by phone at the toll free number 1-866-600-5869 (within North America) or 1-416-342-1091 (outside North America) or by email at tsxtis@tmx.com.


About TrueContext

TrueContext is a global leader in field intelligence. The product’s field workflows and data collection capabilities enable enterprise field teams to optimize decision-making, decrease organizational risk, maximize the uptime of valuable assets, and deliver exceptional service experiences. Over 100,000 subscribers use the Company’s product across multiple use cases, including asset inspection, compliance, installation, repair, maintenance, and environmental, health & safety with quantifiable business impacts.

The Company is based in Ottawa, Canada, and currently trades on the TSXV under the symbol TCXT. “ProntoForms” and “TrueContext” are registered trademarks of TrueContext Inc., a wholly-owned subsidiary of the Company.

About Battery Ventures

Battery partners with exceptional founders and management teams developing category-defining businesses in markets including software and services, enterprise infrastructure, online marketplaces, healthcare IT and industrial technology. Founded in 1983, the firm backs companies at all stages, ranging from seed and early to growth and buyout, and invests globally from six strategic locations: Boston; San Francisco and Menlo Park, California; Tel Aviv; London; and New York. Follow the firm on X @BatteryVentures and visit our website to find a full list of Battery’s portfolio companies at https://www.battery.com/list-of-all-companies/.

Battery Contact:
Rebecca Buckman
Marketing Partner
Battery Ventures
650-292-2077
becky@battery.com

Alvaro Pombo
co-Chief Executive Officer
TrueContext Corporation
613.599.8288 ext. 1111
apombo@truecontext.com

Philip Deck
co-Chief Executive Officer
TrueContext Corporation
416.702.3974
pdeck@truecontext.com

Dave Croucher
Chief Financial Officer
TrueContext Corporation
613.286.9212
dcroucher@truecontext.com