9187669 Canada Inc.

June 18, 2015 21:16 ET

9187669 Canada Inc. to Proceed With Compulsory Acquisition of Remaining Minority Shares of Hartco Inc.

MONTREAL, CANADA--(Marketwired - June 18, 2015) - 9187669 Canada Inc., a company indirectly owned by Mr. Harry Hart and members of his immediate family, is pleased to announce that as of the expiry time of 5:00 p.m. (eastern time) today, a total of 4,918,840 "minority" shares of Hartco Inc. (TSX:HCI), representing 91.50% 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 13,289,800 Hartco shares, representing 96.67% of Hartco's 13,747,104 issued and outstanding shares.

Having now acquired more than 90% of the outstanding "minority" shares, 9187669 Canada Inc. intends to proceed with the "compulsory acquisition" of the remaining shares not deposited under the offer, pursuant to section 206 of the Canada Business Corporations Act. 9187669 Canada Inc. will send the required notice to the remaining Hartco shareholders shortly and will be deemed to acquire the remaining shares 30 days after sending the notice.

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