Rosa Capital Inc.
TSX VENTURE : RSA.P

September 16, 2015 18:20 ET

Rosa Announces Application to Extend the Time to Hold Its Annual Meeting and Receipt of Conditional Approval on Discretionary Extension to the Deadline to Complete Its Qualifying Transaction

CALGARY, ALBERTA--(Marketwired - Sept. 16, 2015) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Rosa Capital Inc. ("Rosa" or the "Corporation") (TSX VENTURE:RSA.P) today announces that in accordance with s.132(2) of the Business Corporations Act (Alberta), it is seeking an extension to the deadline to hold its annual meeting of shareholders. An application will be made on September 18, 2015 at 10:00 a.m. (Calgary time) at the Court of Queen's Bench Masters Chambers (the "Extension"). The Extension will allow Rosa to hold one meeting to approve, among other things, annual meeting matters and listing on the NEX Board in order to satisfy one of the conditions of receiving a final approval for receiving a discretionary extension to complete its qualifying transaction (the "NEX Transfer"). Further details regarding the extension application to the TSX Venture Exchange ("TSX Venture") are provided below.

Trading Suspension & Qualifying Transaction Deadline Extension Application

Rosa's deadline for completing a qualifying transaction ("QT") was April 21, 2015. Due to the current economic conditions in Canada, Rosa was unable to complete its QT prior to its deadline. As a result of not completing a QT prior to this deadline, trading of Rosa shares has been suspended and trading will remain suspended in accordance with the policies of the TSX Venture until such time as the TSX Venture lifts the suspension.

Due to ongoing challenging market conditions, the TSX Venture is accepting discretionary applications for extensions to QT deadlines that if granted, would result in Rosa having until January 25, 2016 to complete a QT. Rosa has submitted its application to the TSX Venture for this extension and has received a conditional approval but in order to receive final approval of such extension, Rosa is required to obtain approval of the NEX Transfer from its shareholders.

In addition to the extension application, Rosa may also consider merging with another capital pool company, which will allow the resulting entity another year from the date of the completion of such merger to complete its qualifying transaction.

This news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Other than as required by law, Rosa will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Rosa.

Contact Information

  • Rosa Capital Inc.
    Mr. Danny Geremia
    Chairman and Director
    (403) 536-8163