9187669 Canada Inc.

June 02, 2015 17:04 ET

9187669 Canada Inc. Acquires 4,771,564 Shares Pursuant to its Offer for Hartco Inc.

MONTREAL, CANADA--(Marketwired - June 2, 2015) - 9187669 Canada Inc. announces that it has acquired 4,771,564 common shares of Hartco Inc. ("Hartco"), representing 34.71% of Hartco's 13,747,104 issued and outstanding common shares, at a price of $3.40 per share, for a total consideration of $16,223,317.60.

The shares were validly deposited and taken up by 9187669 Canada Inc. under its offer dated April 23, 2015 to acquire all of the issued and outstanding common shares of Hartco, excluding any shares held by 9187669 Canada Inc. or its affiliates. 9187669 Canada Inc. is a wholly-owned subsidiary of H&N Family Subco Inc., a company indirectly owned by Mr. Harry Hart and members of his immediate family.

Following the acquisition of the 4,771,564 common shares, 9187669 Canada Inc. and its affiliates now beneficially own or exercise control or direction over an aggregate of 13,091,764 common shares of Hartco, representing 95.23% of Hartco's 13,747,104 issued and outstanding common shares.

As previously announced, 9187669 Canada Inc. has extended the expiry date of its offer to 5:00 p.m. (Montreal time) on June 8, 2015, in order to allow Hartco shareholders who have not yet accepted the offer an opportunity to do so.

9187669 Canada Inc. intends to acquire all of the common shares of Hartco that it and its affiliates do not currently own either pursuant to the offer or pursuant to any compulsory acquisition transaction or other transaction in connection therewith, including any proposed amalgamation, statutory arrangement, amendment to articles, consolidation, capital reorganization or other transaction involving Hartco and 9187669 Canada Inc., or an affiliate of 9187669 Canada Inc., that 9187669 Canada Inc. may, in its sole discretion, undertake.

This news release does not constitute an offer for or solicitation of Hartco shares in any jurisdiction. Any such solicitation would be made only by formal offer and only in those jurisdictions where 9187669 Canada Inc. may legally do so.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of applicable securities laws. Such forward-looking statements may include, without limitation, statements regarding the take-over bid for the shares of Hartco and other statements that are not historical facts. Such statements are subject to assumptions, risks and uncertainties. Actual results or events may vary materially from expected results or events. In particular, the timing and completion of the "compulsory acquisition" referred to above are subject to certain conditions, and other risks and uncertainties. Accordingly, there can be no assurance that the "compulsory acquisition" will occur on the timetable or on the terms and conditions contemplated. 9187669 Canada Inc. does not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact Information

  • Mr. Harry Hart
    President, 9187669 Canada Inc.
    9393 Louis-H Lafontaine Blvd.
    Montreal, Quebec
    H3J 1Y9
    Telephone (514) 354-0580 Ext. 1301