Cagim Real Estate Corporation

Cagim Real Estate Corporation

April 26, 2010 17:08 ET

Cagim Announces the Exercise of All Issued and Outstanding Stock Options and the Conversion of Debentures Within the Scope of the Take-Over Bid of BTB Real Estate Investment Trust

QUEBEC CITY, QUEBEC--(Marketwire - April 26, 2010) - Cagim Real Estate Corporation (the "Corporation" or "Cagim") (TSX VENTURE:CIM), a real estate management corporation, announces that all of the 2,320,000 issued and outstanding stock options have been exercised and that the holders of such stock options will deposit the common shares in favour of the take-over bid of BTB Real Estate Investment Trust. Furthermore, Cagim announces the conversion into common shares of the convertible debentures currently in circulation representing $650,000 and has obtained confirmation from the remaining debenture holder of its intention to convert its debenture of $750,000 prior to May 7, 2010.

The 5,120,000 common shares will be deposited in response to the take-over bid of BTB Real Estate Investment Trust mailed to shareholders on April 1st, 2010, and the Corporation is confident that the minimum 66 2/3% of the Corporation's issued and outstanding common shares (calculated on a fully-diluted basis) will be duly deposited prior to the expiry of the take-over bid on May 7, 2010.

About Cagim Real Estate Corporation

The Corporation is listed on the TSX Venture Exchange and operates property management activities. The Corporation operates its activities through its subsidiaries ADG Immobilier Inc., Complexe Lebourgneuf Inc. and Société Immobilière Albatros Inc.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Cagim Real Estate Corporation
    Mr. Guy Boutin
    Chief Executive Officer
    Cagim Real Estate Corporation
    Mr. Denis Lepine
    Chief Financial Officer