VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 26, 2017) - Captiva Verde Industries Ltd. ("Captiva Industries") is pleased to announce the effective date for the plan of arrangement (the "Arrangement") between Captiva Industries and its wholly-owned subsidiary, Captiva Verde Land Corp. ("Captiva Land"), is April 26, 2017 (the "Effective Date").
As a result of the completion of the Arrangement, Captiva Land is now a reporting issuer in the province of British Columbia, Alberta and Ontario and is no longer a subsidiary of Captiva Industries. Pursuant to the Arrangement, Captiva Land is issuing shares to Captiva Industry shareholders of record as of February 9, 2017.
As soon as practicable after the Effective Date, Captiva Land expects to cause its transfer agent, Computershare Investor Services Inc., to issue the applicable Captiva Land shares to which Captiva Industries shareholders are entitled to pursuant to the Arrangement. Captiva Land expects that such shares will be issued in un-certificated (DRS) form. Captiva Land's CUSIP number is "14075E100" and its ISIN number is "CA14075E1007".
Captiva Industries received shareholder approval for the Arrangement at a special meeting of shareholders held March 15, 2017, and received final approval of the Arrangement from the Supreme Court of British Columbia on February 21, 2017 in accordance with Part 9 of the Business Corporations Act (British Columbia).
On behalf of the Board of Directors of Captiva Industries and Captiva Land.
Jeffrey Ciachurski, Director
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Captiva Land's periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.
Although Captiva Land has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited assumptions related to the time and costs involved to issue the securities.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Captiva Land disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Captiva Land does not assume any liability for disclosure relating to any other company mentioned herein.