JEMTEC Announces Amendment to Payout Date for Previously Declared Special Dividend

TSX-V: JTC

VANCOUVER, Jan. 10, 2020 /CNW/ - JEMTEC Inc. (TSX-V: JTC) ("JEMTEC" or the "Company") announced today that the payout date for the previously declared one time cash dividend of $0.25 per common share (the "Special Dividend") has been amended to Monday, February 10, 2020 (the "Payout Date").

As outlined in the Company's news release of January 8, 2020, the Special Dividend will result in a distribution of approximately $679,219 of the Company's cash. Please note that the Special Dividend Record Date remains close of business on January 17, 2020.

The Company has appointed Computershare Trust Company of Canada as its Dividend Disbursing Agent. Following consultation with the Dividend Disbursing Agent, the Company has decided to amend the Payout Date from January 31, 2020 to Monday, February 10, 2020 so as to allow sufficient time for the processing of required documentation to ensure accurate payment of the Special Dividend. JEMTEC's common shares will trade ex-dividend commencing on January 16, 2020 until the close of trading on the Special Dividend Payout Date. Persons who purchase JEMTEC common shares on or before January 15, 2020 will be entitled to the Special Dividend. Purchasers on or after January 16, 2020 will not be entitled to the Special Dividend.

Shareholders do not need to take any further action. JEMTEC will send to registered shareholders a cheque representing the Special Dividend and beneficial shareholders will have their brokerage accounts automatically updated to reflect the Special Dividend.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Jemtec Inc.