Tilting Capital Corp.

April 25, 2016 16:53 ET

Tilting Capital Corp. Provides Corporate Update

CALGARY, ALBERTA--(Marketwired - April 25, 2016) - Tilting Capital Corp. (the "Corporation" or "Tilting") (NEX:TLL.H) is pleased to announce that the TSX Venture Exchange (the "TSX-V") has approved the reinstatement of trading of the Corporation's common shares. Effective at the opening of the market on Tuesday, April 26, 2016, trading of the Corporation's common shares on the NEX Board of TSX-V will be reinstated.

The Corporation is also pleased to report that the Alberta Securities Commission has revoked its cease trade order dated March 4, 2016 and the British Columbia Securities Commission has revoked its cease trade order dated March 7, 2016. The cease trade orders were issued by the Alberta Securities Commission and the British Columbia Securities Commission against the Corporation for failure to file its December 31, 2015 unaudited interim financial statements, interim MD&A and certification of interim filings ("Interim Filings"). On March 8, 2016, Tilting filed the Interim Filings on SEDAR. Accordingly, the Corporation is no longer in default under the securities laws of Alberta or British Columbia.

The Corporation also announces that it has assigned (the "Assignment") its outstanding loan to ArcScan, Inc. in the amount of $649,000 to the holders of convertible debentures of Tilting (the "Debentures") in the aggregate amount of $678,000 in consideration for such holders releasing and discharging Tilting from all amounts owing under the Debentures.

Pursuant to the Assignment, Paloduro Investments Inc. ("Paloduro") (a company controlled by Robert Cross) released and discharged CDN$228,000 principal amount of Debentures. Following the Assignment, Paloduro and Robert Cross collectively own 2,647,060 common shares of Tilting, representing approximately 12.8% of the issued and outstanding voting securities of the Corporation on a non-diluted basis.

Neither the NEX Board, 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 press release.

Contact Information

  • Tilting Capital Corp.
    Scott P. Hayduk
    (403) 560-4951