TORONTO, ONTARIO--(Marketwired - July 19, 2013) - Park Lawn Corporation ("Park Lawn") (TSX VENTURE:PLC) announces that The Fox Hat Equities Ltd. has, in concert with several joint actors (collectively, the "Fox Hat Group"), exercised a Call Option to acquire 990,868 Common Shares in Park Lawn, at a price of $9.07 per share (the "Purchase Price"). The Call Option was contained in a Shareholders' Agreement dated July 4, 2011 among Frank Mills, Patricia Mills, the Frank and Patricia Mills Settlement, Larry Boland through his corporation Micasasuerte Inc. and Tom Falus through Team Capital Corporation (the "Mills/Boland Group"), and the Fox Hat Group. Under the terms of the Shareholders' Agreement, the Fox Hat Group has an option to purchase all of the remaining shares of the Mills/Boland Group at a price of 115% of the market value at the time the Call Option is exercised, but not to be less than $9.00 per share. The transaction is scheduled to close on or before July 31, 2013.
About Park Lawn
Park Lawn Corporation indirectly holds six cemeteries in the Greater Toronto Area and Services Memorables Harmonia Inc. based in Quebec (www.parklawnlp.ca). Its common shares are listed on the TSX Venture Exchange.
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.