TORONTO: CAPVEST Income Corp. (the “Company”) is pleased to announce its common shares will commence trading on a consolidated basis on the TSX Venture Exchange at the opening of trading on March 26, 2007.
Consolidation 15 to 1: For every 15 pre-consolidation common shares, shareholders of the Company will receive one post-consolidation common share. No fractional shares will be issued. In the event that the consolidation would result in a holder of common shares otherwise becoming entitled to a fraction of a common share, such fraction of a common share shall be rounded up to the next whole common share.
Approval: At the Company’s special meeting of shareholders held on March 6, 2007, the shareholders authorized the Board of Directors, in its sole discretion, to consolidate the common shares of the Company at a ratio of up to 15 to 1. The Board of Directors subsequently approved the consolidation ratio of 15 to 1. The TSX Venture Exchange approved the consolidation on March 22, 2007.
Primary purpose: Management believes that the consolidation will raise the share price to more attractive levels, reduce the shareholder transaction cost and improve trading liquidity.
Company’s name and trading symbol: As a condition of the TSX Venture Exchange approval of the consolidation, the Company’s trading symbol has changed to CSV. The Company’s name has not changed as a result of the consolidation.
CAPVEST Income Corp.: CAPVEST Income Corp. is an investment corporation listed on the TSX Venture Exchange. Its common shares and 7% convertible debentures trade under the symbols CSV and CVS.DB, respectively. CAPVEST Income Corp. is managed by Sentry Select Capital Corp.
More information: Investor Services (broker/investor inquiries), Kinga Lam (media inquiries) or Kevin Cohen (legal inquiries)Tel: 1-888-246-6656 Fax: 416-364-1197 firstname.lastname@example.org www.sentryselect.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS
Certain statements included in this letter constitute forward looking statements, including those identified by the expressions ‘‘anticipate’’, ‘‘believe’’, ‘‘intend’’, “will” and similar expressions to the extent they relate to the Company. The forward looking statements are not historical facts but reflect the Company’s current expectations regarding future results or events. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Company believes that the assumptions inherent in the forward looking statements are reasonable, forward looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
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