Abcana Capital Inc. Announces Casa Shareholder Approval of Qualifying Transaction
December 11, 2014 - Vancouver, British Columbia. ABCANA CAPITAL INC. (“Abcana”) (TSX-V: ABQ.H), a capital pool company, is pleased to announce that the shareholders of Casa Minerals Inc. approved the Qualifying Transaction at a special meeting of the shareholders held on December 8, 2014.
Abcana is in the process of finalizing its previously announced private placement financing (see news release dated November 20, 2014) and anticipates that it will close the financing and the Qualifying Transaction by year end.
The Qualifying Transaction is subject to the conditions set out in the Agreement, including the following (i) final approval of the Qualifying Transaction by the TSX Venture Exchange; and (ii) completion of the financing.
About Abcana
Abcana was incorporated April 19, 2010 under the Business Corporations Act (British Columbia). Abcana is a CPC as defined by the CPC Policy. On November 9, 2011, Abcana completed its initial public offering and its common shares were listed for trading on the Exchange on November 10, 2011. As disclosed in its final prospectus dated October 21, 2011, Abcana’s business has been restricted to the identification and evaluation of businesses or assets for the purpose of completing its Qualifying Transaction.
For further information please contact:
Abcana Capital Inc.
Robert Hall, CEO and CFO (604) 999-5554
Information set forth in this news release contains forward-looking statements. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Abcana cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Abcana’s control. Such factors include, among other things: risks and uncertainties relating to Abcana’s ability to complete the proposed Qualifying Transaction; and other risks and uncertainties, including those described in Abcana’s Prospectus dated October 21, 2011 filed with the Canadian Securities Administrators and available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially form the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Abcana undertakes no obligation to publicly update or revise forward-looking information.
Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
A halt in trading shall remain in place until after the Qualifying Transaction is completed or such time that acceptable documentation is filed with the TSX Venture Exchange.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.