At the Meeting, the Company's shareholders also:
1. unanimously re-appointed
Collins Barrow Toronto LLPas the Company's auditor for the next financial year and authorized the Board to fix the remuneration of the auditor; and 2. unanimously approved the proposed sale of the Clarington Retirement Residence ("Clarington") as further described in the Company's press release dated May 12, 2014and the management information circular for the Meeting (the "Transaction").
The Transaction is scheduled to close on
Kingsway is the owner of senior housing facilities located in
Safe Harbor Statement:
This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. In particular, factors that could cause actual results to differ materially from those in forward-looking statements include: our inability to obtain additional financing on acceptable terms; risk that our facilities will not gain widespread market acceptance; inability to compete with others who provide comparable facilities. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements. When used in this document, the words "believe," "expect," "anticipate," "estimate," "project," "plan," "should," "intend," "may," "will," "would," "potential," and similar expressions may be used to identify forward-looking statements.
This press release is not an offer of securities for sale in
FOR FURTHER INFORMATION PLEASE CONTACT:
Kingsway Arms Retirement Residences Inc.Mr. Dan AmadoriChair, Board of Directors 416-644-4361 Source: Kingsway Arms Retirement Residences Inc.