Beaumont Select Corporations Inc.
TSX VENTURE : BMN.A

October 17, 2014 14:40 ET

Beaumont Select Corporations Inc. Announces Closing of Going Private Transaction

CALGARY, ALBERTA--(Marketwired - Oct. 17, 2014) - BEAUMONT SELECT CORPORATIONS INC. (TSX VENTURE:BMN.A) ("Beaumont" or the "Corporation") wishes to announce that the Corporation has closed its previously announced going private transaction that resulted in Winston Ho Fatt, the Chief Executive Officer, President and a director of the Corporation, members of his family and corporations beneficially owned by them becoming the only shareholders of Beaumont and all other shareholders of Beaumont receiving $2.05 in cash for each of their class "A" common shares of the Corporation (the "Beaumont Shares"). Beaumont was taken private by amalgamating with 1842492 Alberta Ltd., a newly incorporated wholly-owned subsidiary of the Corporation, to form an amalgamated company named "Beaumont Select Corporations Inc."

The going private transaction by way of amalgamation was approved by the holders of Beaumont Shares at a special meeting held on October 17, 2014.

With the completion of the going private transaction, it is anticipated that the Beaumont Shares will be delisted from the TSX Venture Exchange after the close of business on Monday, October 20, 2014. In addition, the Corporation will begin the process of applying to cease to be a reporting issuer or the equivalent in the relevant Canadian jurisdictions.

NEITHER THE 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

  • Beaumont Select Corporations Inc.
    Winston Ho Fatt
    Chief Executive Officer and President
    (403) 250-8757