Deans Knight Income Corporation

Deans Knight Income Corporation

July 21, 2015 16:43 ET

Deans Knight Income Corporation Announces the Anticipated Liquidation of One of Its Remaining Securities

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 21, 2015) - Deans Knight Income Corporation (the "Company") is pleased to announce the anticipated liquidation of its BlackBridge Space Holdings Ltd. ("BlackBridge") royalty stream. This payment to the Company will be the result of the sale by BlackBridge of its RapidEye suite of core offerings, as announced by BlackBridge on July 15, 2015 (the "Transaction"). BlackBridge has announced that it expects the Transaction will close during the third quarter of 2015.

The liquidation of the royalty stream is expected to generate approximately $2,000,000, or $0.19 per common share of the Company. For reference, the Company had this royalty stream valued at $1,175,000, or $0.11 per common share, in its Net Asset Value reported on July 16, 2015. The Company intends to distribute the proceeds from the sale of the BlackBridge royalty stream, along with any additional excess cash, to common shareholders upon receiving payment from BlackBridge.

The Company will provide a detailed update on the sale of the BlackBridge royalty stream, and the related cash distribution, in its interim management report of fund performance to be released in August.

Forward-Looking Statements

This press release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward‐looking information or statements. More particularly and without limitation, this press release contains forward-looking statements and forward-looking information concerning the anticipated liquidation of its royalty interest in BlackBridge, the anticipated closing of the Transaction, the anticipated proceeds of the liquidation of the BlackBridge royalty stream, the Company's intention to distribute the proceeds from the sale of the BlackBridge royalty stream and the Company's plans to provide an update on the Transaction and the related cash distribution.

The forward‐looking statements and forward-looking information are based on certain key expectations and assumptions made by the Company, including, but not limited to, expectations and assumptions concerning the closing of the Transaction and the anticipated payment of the BlackBridge royalty stream and that the closing of the Transaction will take place in accordance with the terms and conditions (including the proposed timeline) as disclosed by BlackBridge. Although the Company believes that the expectations and assumptions on which such forward‐looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and forward-looking information because the Company can give no assurance that they will prove to be correct.

Since forward‐looking statements and forward-looking information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with potential changes in legislation and administrative policy, changes in tax laws, closing risks, general economic, political and market conditions, interest rate fluctuations, failure by BlackBridge to obtain required regulatory, corporate, shareholder and other approvals and other risks as set forth in the Company's annual information form dated March 26, 2015 on file with the securities regulatory authorities at www.sedar.com.

The Company assumes no obligation to update forward-looking statements or information except as may be required by applicable securities laws.

Contact Information

  • Deans Knight Income Corporation
    Craig Langdon
    Chief Executive Officer and Director
    (604) 669-0212

    Deans Knight Income Corporation
    Mark Myles
    Chief Financial Officer
    (604) 669-0212