Partners Value Investments Inc.
TSX VENTURE : PVF

Partners Value Investments Inc.

May 26, 2016 16:53 ET

Shareholders of Partners Value Investments Approve Proposed Reorganization

TORONTO, ONTARIO--(Marketwired - May 26, 2016) - Partners Value Investments Inc. (the "Company") (TSX VENTURE:PVF) today announced that at the annual and special meeting held earlier today, shareholders of the Company approved the previously announced proposed capital reorganization by way of a plan of arrangement under Ontario law. The reorganization was approved by approximately 99.97% of the votes cast by holders of common shares of the Company, 100% of the votes cast by holders of non-voting shares of the Company and 99.75% of the votes cast by minority holders of common shares of the company.

The reorganization remains subject to customary conditions to closing, including the approval of the plan of arrangement by the Ontario Superior Court of Justice. Subject to receipt of court approval and the satisfaction or waiver of all closing conditions, the reorganization is expected to close before the end of the June 2016.

In addition, the Company announced that all six nominees listed in the Company's management proxy circular dated April 28, 2016 proposed by management for election to the board of directors were elected by ballot. The directors will remain in office until the next annual meeting of shareholders or until their successors are elected or appointed. The proxies received by management were as follows:

Votes in Favour Votes Withheld
Name # % # %
John P. Barratt 64,722,924 99.97 17,200 0.03
Edward C. Kress 64,259,903 99.26 480,221 0.74
Brian D. Lawson 64,715,991 99.96 24,133 0.04
Frank N.C. Lochan 64,722,924 99.97 17,200 0.03
George E. Myhal 64,259,903 99.26 480,221 0.74
Ralph J. Zarboni 64,722,924 99.97 17,200 0.03

Forward Looking Statements

Note: This news release contains "forward-looking statements" within the meaning of Canadian securities laws. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "estimates", "intends", "targets", "projects", "forecasts", "seeks", "likely" or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could". Forward-looking statements in this news release include statements regarding the timing of completion of the proposed reorganization and the receipt of the required regulatory approvals. Forward-looking statements are provided for the purpose of presenting information about current expectations and plans of management of the Company relating to the future, and readers are cautioned that such statements may not be appropriate for other purposes. Although management believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them or other forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, which may cause the actual results to differ materially from the anticipated future results expressed or implied by such forward-looking statements.

Factors that could cause actual results to differ materially from those set forward in the forward-looking statements include, but are not limited to, the proposed reorganization successfully occurring, which cannot be assured, and other risk factors and uncertainties detailed from time to time in the Company's documents filed with the securities regulators in Canada.

The Company cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Company's forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or otherwise. However, any further disclosures made on related subjects in subsequent reports should be consulted.

Contact Information

  • David Clare
    Investor Relations
    647-503-6516
    ir@pvii.ca