North Channel of Georgian Bay Holdings Ltd.

October 28, 2015 16:16 ET

Manitoulin Transport Files Early Warning Report

MISSISSAUGA, ONTARIO--(Marketwired - Oct. 28, 2015) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

North Channel of Georgian Bay Holdings Ltd., through its wholly owned subsidiary 1498398 Ontario Inc. (collectively "Manitoulin Transport"), announced that it has acquired 6,020,200 common shares ("Common Shares") of Entrec Corporation through the facilities of the Toronto Stock Exchange at a price of $0.32 per Common Share. The Common Shares acquired by Manitoulin Transport represent approximately 5.6% of the issued and outstanding Common Shares of Entrec.

As of the date hereof, Manitoulin Transport has beneficial ownership of approximately 15.4% of the issued and outstanding common shares of Entrec on a non-diluted basis.

The Common Shares were acquired for investment purposes. Manitoulin Transport and its affiliates may, from time to time, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over securities of Entrec through market transactions, private agreements or otherwise.

This press release is being issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters. A copy of this report may be obtained by contacting Gord Smith at 1-800-265-1485 ext 82240.

Contact Information

  • Gord Smith
    Chief Executive Officer
    1-800-265-1485 ext 82240