Fareport Capital Inc.

Fareport Capital Inc.

August 29, 2007 13:43 ET

Fareport Capital Announces a Special Meeting of Shareholders

TORONTO, ONTARIO--(Marketwire - Aug. 29, 2007) - Fareport Capital Inc. (TSX VENTURE:CAB) announced today that a special meeting of shareholders of the Corporation will be held on September 26, 2007 in Toronto, Ontario for shareholders to consider and approve, among other items of special business, the proposed private placement transaction, the shares for debt transaction and the share consolidation transaction (collectively, the "Transactions") previously announced to shareholders. The Corporation further announced that a notice of meeting, management information circular and form of proxy in connection with the special meeting for approval of the Transactions has been mailed to shareholders and other intermediaries which materials have also been filed and are available on www.sedar.com. The record date for shareholders entitled to receive notice of and vote at the meeting has been determined by the board of directors to be August 24, 2007. The Corporation previously received TSX Venture Exchange conditional approval for the proposed Transactions on August 16, 2007.

Following the meeting, and upon receipt of the requisite approval by shareholders of the Transactions, it is currently expected by the Corporation that the Transactions will be completed on or prior to September 30, 2007.

Following completion of the Transactions, it is also currently expected by the Corporation that the financial statements for the three months ended March 31, 2007 will be filed under applicable securities laws on or prior to December 31, 2007. The management and insider cease trade order previously imposed pursuant to OSC Policy 57-603 will continue to be in effect until the financial statements for such period are filed under applicable securities laws.

Neither the TSX Venture Exchange nor any securities regulatory authority has approved the contents of this news release.

Contact Information

  • Fareport Capital Inc.
    Emlyn David
    President, and Chief Executive Officer
    (416) 725-2177