IPC Financial Network Inc. announced Monday that its shareholders have overwhelmingly approved the acquisition of the firm by Dundee Wealth Management Inc.

At the special meeting of shareholders held Monday in Toronto, the resolutions authorizing the transaction with Dundee Wealth and the reorganization of IPC’s share capital received nearly unanimous approval from those shareholders who voted at the meeting.

Completion of the transaction remains conditional upon satisfaction of a number of conditions in favour of Dundee Wealth, including that all necessary regulatory approvals have been obtained and that Dundee Wealth be satisfied with the status of certain regulatory and other matters at IPC’s Montreal office.

Subject to the waiver or satisfaction of these conditions, IPC expects that the transaction will close on April 4.

The reorganization of IPC’s share capital will be completed prior to closing, at which time approximately 65 million IPC common shares and no preferred shares will be outstanding.

Upon closing of the transaction between IPC and Dundee Wealth, the TSX Venture Exchange will halt trading in IPC’s common shares, and IPC’s common shares will subsequently be delisted from the TSX Venture Exchange.