New Commerce Split Corp.

New Commerce Split Corp.

March 01, 2011 17:35 ET

New Commerce Split Announces Exercise of Warrants (YCM.WT)

TORONTO, ONTARIO--(Marketwire - March 1, 2011) - New Commerce Split Corp. (the "Company") (TSX:YCM)(TSX:YCM.PR.A)(TSX:YCM.PR.B) announces a total of 937,290 Warrants were exercised at $10 each for total proceeds of $9,372,900, bringing the Company's net assets to approximately $46 million. The Warrants expired on February 28, 2011. Each Warrant exercised entitled holders to one unit of the Company. Each unit consists of one Capital share (TSX symbol "YCM"), one Class I Preferred share (TSX symbol "YCM.PR.A") and one Class II Preferred share (TSX symbol "YCM.PR.B").

The proceeds from the Warrant exercises will be used by the Company to invest in common shares of Canadian Imperial Bank of Commerce, a Canadian financial institution.

Contact Information

  • New Commerce Split Corp.
    Investor Relations
    416-304-4443 or Toll free at 1-877-4-Quadra (1-877-478-2372)