Chalk Media Corp. (CKM.V) said that Research In Motion Ltd. (RIMM,RIM.TO) has completed the acquisition of the company by way of a statutory plan of arrangement.
As a result of the arrangement, Chalk Media becomes a wholly-owned subsidiary of RIM. Chalk will apply to delist its shares from trading on the TSX Venture Exchange and will apply to Canadian securities regulators to cease to be a reporting issuer.
Last month, RIM agreed to acquire Chalk Media in an all-cash deal at C$0.142 per share or C$23.13 million. RIM has made a C$2.2 million loan to Chalk to provide for additional working capital to fund Chalk's operation until the completion of the transaction.
Chalk is a developer of Mobile chalkboard, an award-winning application suite that enables the rapid creation and secure, tracked deployment of media-rich "Pushcasts" to BlackBerry smartphones.
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