Toronto, Ontario--(Newsfile Corp. - July 28, 2020) - 2583262 Ontario Inc. ("258" or the "Company"), 1246764 B.C. Ltd., 1246765 B.C. Ltd., 1246768 B.C. Ltd., 1246773 B.C. Ltd., 1246775 B.C. Ltd., 1246777 B.C. Ltd., 1246778 B.C. Ltd., and 1246779 B.C. Ltd. are pleased to announce that the arrangement previously announced by 258 in its June 24, 2020 news release was completed July 24, 2020.
Under the statutory plan of arrangement ("Plan of Arrangement"), each 258 Shareholder received the following in exchange for each existing common share of 258: (i) 100,000 common shares of 1246764 B.C. Ltd., 100,000 common shares of 1246765 B.C. Ltd., 100,000 common shares of 1246768 B.C. Ltd., 100,000 common shares of 1246773 B.C. Ltd., 100,000 common shares of 1246775 B.C. Ltd., 100,000 common shares of 1246777 B.C. Ltd., 100,000 common shares of 1246778 B.C. Ltd., and 100,000 common shares of 1246779 B.C. Ltd. for each outstanding common share of 258 held (the "Distributed Securities"). In addition to the distribution of the Distributed Securities to the 258 Shareholders, each existing common share of 258 was exchanged for one new common share of 258 ("New Common Share").
As a result of completing the Plan of Arrangement, 1246764 B.C. Ltd., 1246765 B.C. Ltd., 1246768 B.C. Ltd., 1246773 B.C. Ltd., 1246775 B.C. Ltd., 1246777 B.C. Ltd., 1246778 B.C. Ltd., and 1246779 B.C. Ltd. are now separate reporting issuers and 258 holds no interest in any of the aforementioned entities.
For further information please contact:
James Ward CEO, 2583262 Ontario Inc.
This press release is not an offer of the securities for sale in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
Not for distribution to U.S. Newswire Services or for dissemination in the United States of America. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
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