Ontario Hose Specialties Inc.

Ontario Hose Specialties Inc.

February 03, 2006 09:09 ET

Ontario Hose Announces Sale Of Control Block

TORONTO, ONTARIO--(CCNMatthews - Feb. 3, 2006) - Ontario Hose Specialties Inc. (TSX VENTURE:OHS) announces that Ontario Newco Holdings Ltd., which holds 22,367,180 common shares of the company representing 68.7% of the issued and outstanding shares of the company, has filed a notice of intention to distribute securities with securities regulators. As a result, Ontario Newco Holdings Ltd. may sell some, or all, of its common shares through market transactions on the TSX Venture Exchange, private agreements or otherwise.

The company is investigating strategic alternatives, including the sale of its operating subsidiary and possible acquisitions, which may or may not involve a change of business, in order to enhance shareholder value.

The consolidation of the common shares is subject to regulatory approval, including the approval of the TSX Venture Exchange.

Shares Outstanding: 32,566,033

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Ontario Hose Specialties Inc.
    Newell P. Kraik
    (905) 670-0113
    (905) 670-4953 (FAX)