Corporate Properties Limited

May 16, 2006 09:55 ET

Corporate Properties Limited Warrant Exercise

TORONTO, ONTARIO--(CCNMatthews - May 16, 2006) - The Board of Directors of Corporate Properties Limited (TSX VENTURE:CPR) is pleased to announce that it has raised $500,000 by way of the exercise of warrants. These warrants were issued in conjunction with a private placement in May 2004 that resulted in the issuance of 250,000 units, each unit consisting of one common share and one common share purchase warrant. The warrants were priced at $2.00 per share and expired May 15, 2006. All of the warrants were exercised and the company prior to the expiry received the funds.

The proceeds of the private placement will add to the Company's cash position and will be used for general working capital purposes.

The TSX Venture Exchange has neither approved nor disapproved of this press release.

Contact Information

  • Corporate Properties Limited
    Tom Sheppard
    (416) 966-6885