Park Lawn Corporation

Park Lawn Corporation

January 04, 2011 11:59 ET

Park Lawn Income Trust Completes Conversion to a Corporation

TORONTO, ONTARIO--(Marketwire - Jan. 4, 2011) - Park Lawn Corporation ("Park Lawn") (TSX VENTURE:PLC) and Park Lawn Income Trust (the "Fund") announces the closing of the previously announced plan of arrangement resulting in the conversion of the Fund from an income trust to a corporation. Pursuant to the Plan of Arrangement, holders of trust units of the Fund received one common share of Park Lawn for each trust unit held.

Park Lawn's common shares are expected to commence trading today on the TSX Venture Exchange under the symbol "PLC", at which time the trust units of the Fund will be delisted.

Park Lawn will continue the business that the Fund carried on before the conversion. Park Lawn, through its subsidiaries, Park Lawn Limited Partnership and Park Lawn Management Services Inc. is the owner and operator of six cemeteries in the Greater Toronto Area. The six cemeteries are: Park Lawn Cemetery, Riverside Cemetery & Crematorium, Sanctuary Park Cemetery, Westminster Cemetery, Crematorium & Mausoleum, Forest Lawn Crematorium & Mausoleum, and Hillcrest Cemetery. The cemeteries have been in existence and in operation since 1892. The cemeteries and crematoria offer products and services associated with cremation, burial rights and services. In addition, Park Lawn, through its subsidiaries, is a 50% owner of Bloorpark Developments Inc., an entity established for the development of the Kingsway Condominium project on Bloor Street West.

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.

Contact Information

  • Park Lawn Corporation
    Frank Mills
    Chief Executive Officer