Enterprise Capital Corporation
TSX VENTURE : ECE.P

November 10, 2011 15:42 ET

Enterprise Capital Corporation Announces Move to the NEX

EDMONTON, ALBERTA--(Marketwire - Nov. 10, 2011) - Enterprise Capital Corporation (TSX VENTURE:ECE.P) (the "Corporation"), a capital pool company, announces that pursuant to TSX Venture Exchange (the "Exchange") Policy 2.5, the Corporation will be transferring its listing to NEX. NEX is a separate board of the Exchange for companies previously listed on the Exchange which do not meet, among others things, the ongoing listing requirements of the Exchange.

It is expected that the Corporation's common shares will trade under the stock symbol "ECE.H" and will be listed on the NEX on or about November 14, 2011. In accordance with Exchange policies, the Corporation's common shares are currently halted from trading and will remain halted until such time as determined by NEX, which, depending on the policies of NEX, may not occur until the completion of the Corporation's Qualifying Transaction.

As previously announced, the Corporation has entered into a letter agreement, as amended, with Ecuador Capital Corp. ("ECC") pursuant to which the parties agreed to complete a three-cornered amalgamation (the "Transaction"), which would constitute the Corporation's Qualifying Transaction in accordance with the policies of the Exchange. It is currently anticipated that the Corporation's Qualifying Transaction will close in the first quarter of 2012. The Corporation also anticipates that it will file a new Filing Statement reflecting updated terms of the Transaction.

This news release includes forward-looking statements regarding the Corporation and ECC. Such statements are based on the current expectations of the management of the Corporation. The forward- looking events discussed in this news release include the move to NEX, the completion of the Corporation's Qualifying Transaction and the filing of a new Filing Statement. Such events may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Corporation, including risks regarding economic factors and the equity markets generally. No forward- looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and, unless required by law, the Corporation undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Completion of the Corporation's Qualifying Transaction is subject to a number of conditions, including Exchange acceptance. There can be no assurance that the Qualifying Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the Corporation's Filing Statement prepared in connection with the Qualifying Transaction, any information released or received with respect to the Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Corporation should be considered highly speculative.

The Exchange has not in any way passed upon the merits of the potential Qualifying Transaction. 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

  • Enterprise Capital Corporation
    Glen Murphy
    President, Chief Executive Officer, Chief Financial Officer
    and Secretary of Enterprise Capital Corporation
    (403) 660-3933