NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
MONTREAL, March 11, 2019 (GLOBE NEWSWIRE) -- Perlite Canada Inc. (“Perlite”) (TSX-V: PCI) announces the completion of the amalgamation (the “Amalgamation”) of Perlite and 9388-6893 Québec lnc., a wholly-owned subsidiary of 9388-6869 Québec lnc., itself a newly incorporated corporation owned by Richard Barabé, President and Chief Executive Officer of Perlite, and Martin Joyal, Corporate Secretary of Perlite (collectively, the “Principals”), pursuant to which Perlite has been taken private.
Pursuant to the Amalgamation that closed on March 9, 2019, each shareholder of Perlite, other than Richard Barabé, 9393-6565 Québec inc. (formerly 4103572 Canada Inc.) and 9293-4826 Québec inc. (formerly Coprin Minéral Inc.) (the latter two being corporations under the control of the Principals), received one redeemable share of the amalgamated corporation for each common share of Perlite held immediately prior to the Amalgamation and each redeemable share was then immediately redeemed for $0.82 payable in cash.
Applications have been filed to delist the common shares of Perlite from the TSX Venture Exchange and to terminate Perlite’s status as a reporting issuer under applicable Canadian provincial securities laws.
About Perlite Canada Inc.
Perlite is a company incorporated under the laws of the Province of Quebec which specializes in the processing, distribution and sale of perlite and vermiculite. Perlite and vermiculite are used in the construction, industrial and horticultural sectors. Perlite produces expanded perlite and exfoliated vermiculite in its two Canadian plants, one is located in Lachine (Quebec) and the second is located in Saint-Pacôme (Quebec).
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Perlite Canada Inc.
Richard Barabé or Martin Joyal: (514) 631-4251, (514) 631-4254 (Fax)