Cagim Real Estate Corporation

Cagim Real Estate Corporation

May 17, 2006 19:00 ET

Cagim Real Estate Corporation: Exercise of a $500,000 Convertible Debenture

QUEBEC CITY, QUEBEC--(CCNMatthews - May 17, 2006) - The management of Cagim Real Estate Corporation (the " Corporation ")(TSX VENTURE:CIM) is pleased to announce that a five hundred thousand ($500,000) convertible debenture has been fully exercised by its holder Capital Transit Inc. As per to the terms of said debenture, one million (1,000,000) class "A" common shares of the Corporation will be issued to Capital Transit Inc. The debenture is convertible at a price of fifty cents ($.50) per share. We refer you to the press release dated March 8, 2006 with respect to the issuance of the convertible debenture.

About Cagim Real Estate Corporation

The Corporation is listed on the TSX Venture Exchange since September 21, 2004, and operates in property management and real estate acquisitions. The Corporation operates its activities through its subsidiaries ADG Immobilier Inc., Édifice Centre d'Affaires Le Mesnil Inc., Place Donnacona Inc. and Place d'Affaires Lebourgneuf Inc.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Cagim Real Estate Corporation
    Mr. Guy Boutin
    President and Chief Executive Officer
    (418) 622-6644