Cadomin Capital Corporation Announces Intention to Dissolve
August 03 2012 - 8:00AM
PR Newswire (Canada)
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION
IN THE UNITED STATES/ CALGARY, Aug. 3, 2012 /CNW/ - Cadomin Capital
Corporation (the "Corporation") announced today that it is seeking
shareholder approval to wind up its affairs and dissolve. The
board of directors of the Corporation (the "Board") has decided to
seek shareholder approval to proceed with the winding up of the
Corporation, the distribution of its net assets, after providing
for liabilities, contingencies and costs, and ultimately its
dissolution in the future. The Corporation will be sending a notice
of special meeting of shareholders, an information circular and a
form of proxy for a special meeting of shareholders (the "Meeting")
to be held on Friday, August 31, 2012 for purposes of voting on
such dissolution and wind-up. At the Meeting the Corporation will
request its shareholders to: (i) approve the voluntary dissolution;
(ii) appoint a liquidator for the purpose of winding up the
Corporation's affairs and distributing its property; and (iii)
authorize the Corporation to apply to obtain a court order to
expedite the winding up of the Corporation. Upon receipt of all
required regulatory and shareholder approvals, the Corporation will
proceed with the liquidation and dissolution of the Corporation and
will cease to conduct normal business operations, except as may be
required to wind up the business and affairs of the
Corporation. It is intended that all current creditors of the
Corporation shall be repaid and that any remaining assets of the
Corporation shall be disposed of with the proceeds therefrom to be
distributed to shareholders of the Corporation on a pro rata basis
in accordance with their percentage ownership of the common shares
of the Corporation. Management of the Corporation estimates
that an aggregate amount of approximately $40,000 will be available
for distribution to shareholders following payment of all accrued
liabilities. The Corporation may also elect to apply for a
court order to expedite the winding up process. The
Corporation will be dissolved in accordance with the Business
Corporations Act (Ontario). Further details will be disclosed in
the information circular to be mailed to the shareholders of the
Corporation in August 2012. Forward-Looking Statements Certain
statements in this release are forward-looking statements.
Forward-looking statements involve significant risks and
uncertainties. A number of factors could cause actual results
to differ materially from the results discussed in the
forward-looking statements. Although the forward-looking
statements contained in this release are based upon what Cadomin
believes to be reasonable assumptions, Cadomin cannot assure
investors that actual results will be consistent with these
forward-looking statements. These forward-looking statements
are made as of the date of this release and Cadomin assumes no
obligation to update or revise them to reflect new events or
circumstances. Cadomin Capital Corporation CONTACT: David McGoey,
Chief Financial Officer, at (403) 294-6497.
Copyright
Cadomin Capital Corporation (TSXV:CDK.H)
Historical Stock Chart
From Aug 2024 to Sep 2024
Cadomin Capital Corporation (TSXV:CDK.H)
Historical Stock Chart
From Sep 2023 to Sep 2024
Real-Time news about Cadomin Capital Corporation (TSX Venture Exchange): 0 recent articles
More Cadomin Capital Corporation News Articles