July 15, 2016 13:01 ET
BOUCHERVILLE, QUÉBEC--(Marketwired - July 15, 2016) - RONA inc. (TSX:RON.PR.A)(TSX:RON.PR.B) ("RONA") today announced that Lowe's Companies, Inc. ("Lowe's") has provided guarantees of the obligations of RONA under RONA's outstanding Cumulative 5-Year Rate Reset Series 6 Class A Preferred Shares and Cumulative Floating Rate Series 7 Class A Preferred Shares as well as RONA's 5.40% debentures due October 20, 2016.
The full text of the guarantees have been filed with the Canadian securities regulators and are available on RONA's profile at www.sedar.com. As a result and in accordance with applicable securities laws and exemptions therefrom, RONA will satisfy its continuous disclosure requirements and other related reporting requirements going forward by filing copies of all disclosure and financial reporting documents Lowe's is required to file with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as well as certain prescribed summary financial information for RONA, on RONA's profile at www.sedar.com, and it will no longer be required to file full quarterly and audited annual financial statements in respect of RONA.
Acquired by Lowe's Companies, Inc. on May 20, 2016, RONA inc. is a major Canadian retailer and distributor of hardware, building materials and home renovation products. RONA operates a network of close to 500 corporate and independent affiliate dealer stores in a number of complementary formats. RONA serves its network of stores and several independent dealers operating under other banners, including Ace, for which RONA owns the licensing rights and is the exclusive distributor in Canada. With more than 17,000 employees in corporate stores and more than 5,000 employees in the stores of its independent affiliate dealers, RONA generated annual consolidated sales of $4.2 billion for fiscal year 2015. For more information, visit www.rona.ca.
MediaValerie GonzaloMedia Relations514firstname.lastname@example.orgFinancial CommunityTiffany MasonSVP, Corporate Finance & Treasurer704-758-2033Tiffany.email@example.com
See all RSS Newsfeeds