Canadian Banc Corp. Announces Warrant Offering
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 04/23/12 -- Canadian Banc Corp. ("The Company") is pleased to announce that it will issue warrants ("Warrants"), to all Class A Shareholders. Each Class A Shareholder will be entitled to receive one Warrant for each Class A Share held as of the record date of May 4, 2012. Three Warrants will entitle the holder to purchase a Unit consisting of one Class A Share and one Preferred Share for $20.00. The Warrants are exercisable at anytime up to at 5:00 p.m. (Toronto time) on April 30, 2013, the expiry date. If all the Warrants are exercised, the Company will issue approximately 2,257,484 Units and will receive net proceeds of $44,370,316. The net proceeds from the subscription of Units will be used to acquire additional securities in accordance with the Company's investment objectives, strategies and restrictions. By raising additional cash through this offering it allows the Company to capitalize on certain attractive investment opportunities that may arise over the next few months. In addition, if the full subscription was exercised the offering could increase the trading liquidity of the Company and reduce the management expense ratio.
Both the Preferred Shares and Class A Shares trade on the Toronto Stock Exchange (the "TSX") under the symbol "BK.PR.A" and "BK" respectively. The Warrants will be listed on the TSX under the ticker symbol "BK.WT". It is expected that Warrants will commence trading on May 7, 2012 and continue trading until 12:00 (EST) on April 30, 2013.
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Company. The forward-looking statements are not historical facts but reflect the Manager's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Manager believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Manager undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
Contacts:
Canadian Banc Corp.
Investor Relations
416-304-4443 or toll free at 1-877-4-Quadra (1-877-478-2372)
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Unternehmensinformation / Kurzprofil:
Datum: 23.04.2012 - 14:18 Uhr
Sprache: Deutsch
News-ID 138012
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contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Personal Finance
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