The issue of Warrants will be accomplished through a reorganization of shares which will occur prior to the opening of trading on the TSX on
The details are as follows:
Each holder of a Capital Share on the effective date will receive one Capital Share (2014), having the rights, privileges, restrictions and conditions approved by Shareholders at the 2014 Special Meeting, and one Warrant for each Capital Share held.
Each holder of a Class II Preferred Shares on the effective date will receive one Class II Preferred Share (2014), having the rights, privileges, restrictions and conditions approved at the 2014 Special Meeting, and one Warrant for each Class II Preferred Share held.
The Warrants will allow current Capital and Class II Preferred shareholders to increase their investment in the Company. Four Warrants will entitle the holder to purchase a Unit consisting of one Class I Preferred Share, one Class II Preferred Share and one Capital Share for a total subscription price of
The Class I Preferred Shares, Class II Preferred Shares and Capital Shares are listed on the
The reorganization of shares and issue of Warrants is a non-taxable event.
Additional information regarding the capital reorganization and Warrant offering is contained in the Management Information Circular dated
FOR FURTHER INFORMATION PLEASE CONTACT:
M Split Corp.Investor Relations 416-304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372) www.m-split.com Source: M Split Corp.