TORONTO, ONTARIO--(Marketwired - Aug. 20, 2014) -
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MCM Capital One Inc. (the "Company") (TSX VENTURE:ZGN.H), a capital pool company under the policies of the TSX Venture Exchange (the "Exchange"), is pleased to provide the following updates regarding its proposed qualifying transaction (the "Qualifying Transaction") with Enerdynamic Hybrid Technologies Inc. ("Enerdynamic"):
The Company has filed its Filing Statement, dated August 20, 2014, relating to the Qualifying Transaction. Investors may view the Filing Statement on SEDAR.
Exchange Approval and Anticipated Closing Date
The Company has received conditional acceptance of the Qualifying Transaction from the Exchange. The parties will immediately move forward with closing the Qualifying Transaction and intend to submit all materials to the Exchange in order to satisfy the Exchange's listing conditions as soon as possible. Once the Exchange's final listing conditions are satisfied, the Exchange will issue a final Exchange Bulletin. The Company anticipates that the transactions contemplated in the Filing Statement will be completed and that the Qualifying Transaction will close on or about September 2, 2014. A further press release will be issued following closing of the Qualifying Transaction.
Following closing of the Qualifying Transaction, the shares are expected to list on the Exchange under the symbol "EHT".
MCM Capital One Inc.
The Company, a capital pool company within the meaning of the policies of the Exchange, was incorporated on the 28th day of April, 2010, pursuant to the provisions of the Business Corporations Act (Ontario) under the name MCM Capital One Inc. The Company does not have any operations and has no assets other than cash. The principal business of the Company has been to identify and evaluate opportunities for the acquisition of an interest in assets or businesses, and once identified and evaluated, to negotiate an acquisition or participation agreement with a view to completing a Qualifying Transaction.
Enerdynamic commenced formal business operations on October 1, 2013. Enerdynamic designs, develops, manufactures, assembles, and distributes solar, wind, and other alternate energy solutions for the commercial and residential production of electricity, including but not limited to industries such as transportation, power generation, telecommunications, and water purification. Enerdynamic also uses a licencing revenue model whereby it patents and develops its own technologies, and commercializes them through industry leading corporate sponsors or joint ventures.
Forward Looking Information
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although the Company and Enerdynamic believe that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will provide to be correct. Except as required by law, the Company and Enerdynamic disclaim any intention and assumes no obligation to update or revise and forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the filing statement prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange has in no way passed on the merits of the proposed transaction and has neither approved or disapproved the contents of this press release.
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.