Target Capital Announces Debt Settlement Agreements and Sale of Olympia Financial Group Inc. and Bearspaw Tree Farm Inc. Shares
(businesspress24) - CALGARY, ALBERTA -- (Marketwired) -- 03/20/17 -- Target Capital Inc. ("Target") (TSX VENTURE: TCI)(CSE: TCI)(CSE: TCI.CN) is pleased to announce that it has entered into multiple release and settlement agreements, bond exchange agreements and share purchase agreements pursuant to which:
Following the completion of the transactions contemplated above, it is anticipated that:
The transactions described in this press release are subject the approval of the TSX Venture Exchange.
Target will issue a further press release upon completion of the transactions contemplated above.
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.
Statements Regarding Forward Looking Information
Certain portions of this press release as well as other public statements by Target contain "forward- looking information" within the meaning of applicable Canadian securities legislation, which is also referred to as "forward -looking statements", which may not be based on historical fact. Wherever possible, words such as "anticipates", "will", "plans," "expects," "targets," "continue", "estimates," "scheduled," "anticipates," "believes," "intends," "may," and similar expressions or statements that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved, have been used to identify forward-looking information. Forward-looking statements contained in the Target''s public disclosure include, without limitation, the Target''s earnings expectations, fee income, expense levels, general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, business competition, technological change, changes in government regulations, unexpected judicial or regulatory proceedings, catastrophic events, and the Target''s ability to complete strategic transactions and other factors. In addition, this news release contains forward looking statements relating to the closing of the transactions contemplated in the debt settlement agreements, bond exchange agreements and share purchase agreements as outlined above.
All material assumptions used in making forward-looking statements are based on management''s knowledge of current business conditions and expectations of future business conditions and trends, including their knowledge of the current interest rate and liquidity conditions affecting the Corporation and the Canadian economy. Certain material factors or assumptions are applied by the Corporation in making forward-looking statements, including without limitation, factors and assumptions regarding interest and foreign exchange rates, availability of key personnel, the effect of competition, government regulation of its business, computer failure or security breaches, future capital requirements, acceptance of its products in the marketplace, its operating cost structure, the current tax regime and the ability of the Corporation to obtain necessary third party and governmental approvals, as applicable.
Target Capital Inc. Craig Skauge President 403.261.8459
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