TORONTO, ONTARIO--(Marketwired - July 3, 2014) - Park Lawn Corporation (TSX VENTURE:PLC) (the "Company" or "Park Lawn") today announced that the TSX Venture Exchange has accepted a new employee share loan plan (the "New ESL Plan") that was approved at the annual and special meeting of Park Lawn's shareholders on June 17, 2014. Pursuant to the New ESL Plan, eligible employees may acquire up to 269,796 common shares of the Company from treasury using limited recourse loans provided by the Company. Further details about the New ESL Plan are set out in the Company's management information circular dated May 16, 2014.
About Park Lawn
Park Lawn Corporation provides goods and services associated with the disposition and memorialization of human remains. Products and services are sold to people on a pre-planned basis (pre-need) or at the time of a death (at-need). The Company owns and operates six cemeteries in the Greater Toronto Area and operates the crematorium at the Brampton Crematorium and Visitation Centre. The Company also owns 50% of Amety Ltd, which operates Tubman/Cadieux Funeral Homes in Ottawa and Western Quebec. The Harmonia business of the Company currently operates in Quebec City, Saint-Apollinaire, Gatineau and St. Georges under license. Park Lawn's common shares are listed on the TSX Venture Exchange under the symbol "PLC". The Company is the only Canadian publicly listed cemetery, funeral and cremation business. Park Lawn makes monthly dividend payments to its shareholders. The monthly dividend has been paid each month since January, 2011 and is currently $0.038 per share ($0.46 per share on an annual basis.)
This news release contains forward-looking statements within the meaning of Canadian securities laws, including statements regarding the New ESL Plan. The terms "should", "expects", "believe", and similar terms and phrases are intended to identify these forward- looking statements. Forward-looking statements are based on estimates and assumptions made by Park Lawn in light of its experience and other factors that it believes are appropriate in the circumstances. Many factors could cause Park Lawn's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including the risk factors relating to Park Lawn's business and environment referenced in the "Risk Factors" section of Park Lawn's Annual Information Form (a copy of which may be obtained at www.sedar.com). These factors should be considered carefully, and readers should not place undue reliance on Park Lawn's forward-looking statements. Park Lawn has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Neither the 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 release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Chairman & Chief Executive Officer
Park Lawn Corporation
(416) 233-8155 (FAX)
Source: Park Lawn Corporation