On January 2, 2025, UIL Limited entered into an agreement to acquire all outstanding shares of Carebook Technologies Inc. (TSXV: CRBK) not already owned by UIL, at $0.10 per share — representing a 122% premium over the last closing price. The transaction received unanimous support from Carebook’s Special Committee and Board of Directors, excluding UIL-affiliated members.

On February 24, 2025, Carebook announced the closing of the transaction. Shareholders overwhelmingly approved the deal at a special meeting on February 18, 2025, and it received final court approval on February 20, 2025. 

Following the transaction, Carebook’s shares are expected to be delisted from the TSX Venture Exchange on or around February 25, 2025. The company also plans to cease being a reporting issuer under Canadian securities laws.

BDO Canada LLP served as financial advisor to the Special Committee, Stikeman Elliott LLP advised both the Committee and the Company, and Norton Rose Fulbright Canada LLP represented UIL.