SAR Saratoga Electronic Solutions

Saratoga Electronic Solutions Inc. ("Saratoga")(TSX VENTURE:SAR) is pleased to
announce th at, further to its earlier announcements, it has entered into a
definitive share purchase agreement (the "Purchase Agreement") pursuant to which
it has agreed to sell all of the shares of its wholly-owned subsidiary Car-Tel
Distributions Inc. ("Car-Tel") to 7999291 Canada Inc., a corporat ion controlled
by Luc Charlebois, a shareholder and director of Saratoga and an officer of
Car-Tel (the "Transaction"). Saratoga also announces that it has mailed its
notice of meeting and management information circular (the "Information
Circular") dated November 17, 2011 in connection with its upcoming annual and
special meeting (the "Meeting") at which the holder s of Saratoga's common
shares (the "Shareholders") will be asked to approve, among oth er matters, the
Transaction. The Meeting is scheduled to be held at 2:00 p.m. (Eastern time) on
December 15, 2011, at Saratoga's head office, located at 2975 Hochelaga,
Montreal, QuebecH1W 1G1.


The Information Circular contains details concerning the Transaction, the
Purchase Agreement, voting at the Meeting and other related matters.
Shareholders are urged to carefully review the Information Circular and
accompanying materials (collectively, the "Meeting Materials") as they contain
important information regarding the Transaction.


Copies of the Meeting Materials and the Purchase Agreement are available
electronically under Saratoga's profile on the SEDAR website ( www.sedar.com).


Forward-Looking Statements

This news release contains certain forward-looking statements concerning, among
other matters, Saratoga's proposed sale of Car-Tel. These statements are based
on certain assumptions and analyses made by Saratoga in light of management's
experience and perception of current conditions and expected future
developments, as well as other factors believed to be appropriate in the
circumstances. However, whether actual results and developments will conform to
expectations, and whether Saratoga is ultimately successful in consummating the
sale of Car-Tel, is subject to a number of risks, uncertainties and assumptions,
including the ability to obtain the requisite approvals in connection with such
sale, as well as those discussed in Saratoga's Annual Report and Management's
Discussion and Analysis. Consequently, all of the forward- looking statements in
this news release are qualified by these cautionary statements, and there can be
no assurance as to Saratoga's ability to consummate the sale of Car-Tel or as to
Saratoga's ability to enhance shareholder value through this process. Moreover,
there can be no assurance that the results or developments anticipated by
Saratoga, including as regards its financial resources, will be realized or,
even if substantially realized, that they will have the expected consequences to
or effects on Saratoga. Saratoga undertakes no obligation and does not intend to
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required under
applicable law.

Saratoga Electronic Solutions (TSXV:SAR)
Historical Stock Chart
From May 2024 to Jun 2024

Saratoga Electronic Solutions (TSXV:SAR)
Historical Stock Chart
From Jun 2023 to Jun 2024