9187669 Canada Inc.

June 08, 2015 22:32 ET

9187669 Canada Inc. Extends Offer for Shares of Hartco Inc.

MONTREAL, CANADA--(Marketwired - June 8, 2015) - 9187669 Canada Inc., a company indirectly owned by Mr. Harry Hart and members of his immediate family, announces that as of the expiry time of 5:00 p.m. (eastern time) today, a total of 4,805,862 "minority" shares of Hartco Inc. (TSX: HCI), representing 89.39% of Hartco's 5,376,144 "minority" shares, have been validly tendered under the offer made by 9187669 Canada Inc. for all of the common shares of Hartco, other than shares held directly or indirectly by Mr. Hart and by members of his immediate family. Mr. Hart is the founder, Executive Chairman and Chief Executive Officer of Hartco.

Mr. Hart and members of his immediate family now own, directly or indirectly, or exercise control or direction over, an aggregate of 13,176,822 Hartco shares, representing 95.85% of Hartco's 13,747,104 issued and outstanding shares.

9187669 Canada Inc. also announces that it is extending the expiry date of the offer to 5:00 p.m. (eastern time) on June 18, 2015, in order to allow Hartco shareholders who have not yet accepted the offer an opportunity to do so. A formal notice of extension will be mailed to all Hartco shareholders shortly and the notice of extension will be filed under Hartco's company profile on SEDAR at www.sedar.com.

As set out in the take-over bid circular dated April 23, 2015, if within 120 days after that date the offer has been accepted by Hartco shareholders holding not less than 90% of the outstanding common shares, excluding shares held at the date of the offer by or on behalf of 9187669 Canada Inc. or an "affiliate" or an "associate" thereof (as those terms are defined in the Canada Business Corporations Act), 9187669 Canada Inc. will, to the extent possible, acquire the remainder of the common shares from those shareholders who have not accepted the offer pursuant to the "compulsory acquisition" provisions of the Canada Business Corporations Act. If a "compulsory acquisition" is not available, 9187669 Canada Inc. will pursue other lawful means of acquiring the remaining common shares not tendered to the offer as soon as possible, whether by amalgamation, statutory arrangement or other similar transaction, provided that the consideration per share will be equal to the offer price of $3.40.

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 "compulsory acquisition" of 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
    (514) 354-0580 Ext. 1301