Rym Capital Corp.

September 14, 2010 13:05 ET

RYM Announces Outcome of Its Substantial Issuer Bid

TORONTO, ONTARIO--(Marketwire - Sept. 14, 2010) - RYM Capital Corp. ("Rym" or the "Corporation") would like to announce the results of its substantial issuer bid to purchase for cancellation up to 100% of its issued and outstanding common shares (the "Offer"), which expired at 5:00 p.m. (Toronto time) on September 3, 2010.

Based on the report provided by the depositary for the Offer, 7,826,800 common shares have been properly deposited as at the expiration of the Offer.

All common shares properly deposited under the Offer are expected to be purchased by the Corporation for cancellation, in accordance with the terms of the Offer, at the purchase price of $0.149 per common share. The aggregate consideration for the common shares to be taken up and accepted for purchase and cancellation by the Corporation will be Cdn$1,166,193.20. Payment for such common shares will be made as soon as practicable following take-up by the Corporation, but otherwise in compliance with the Offer. Common shares not validly deposited under the Offer will be returned to the applicable shareholders as promptly as possible.

The common shares to be purchased under the Offer represent approximately 82.39% of the common shares issued and outstanding as of July 26, 2010. After such purchase, approximately 1,673,200 common shares will remain outstanding.

Contact Information

  • RYM Capital Corp.
    Martin Bernholtz
    Chief Financial Officer