MFL Management Limited announces decrease in holdings of MBN equity shares as a result of Uranium/MBN merger
TORONTO, Sept. 6, 2013 /CNW/ - MFL Management Limited (the "Corporation") hereby announces that, pursuant to the merger (the "Merger") of Uranium Focused Energy Fund ("Uranium") into MBN Corporation ("MBN") on August 28, 2013, its percentage holdings of equity shares of MBN (the "Equity Shares"), together with the holdings of its majority interest shareholder, the Brasseur Family Trust (the "Trust"), have decreased from its previously announced 21.6% to approximately 11.8%.
Prior to completion of the Merger, 2,482,982 Equity Shares were outstanding. A further 2,136,369 Equity Shares were issued pursuant to the Merger, resulting in a total of 4,619,351 Equity Shares outstanding upon completion of the Merger on August 28, 2013. Pursuant to the Merger, former unitholders of Uranium received 0.32712222 Equity Shares for each Uranium trust unit held.
The Corporation, together with the Trust, of which Jeremy Brasseur is the sole trustee, held 546,711 Equity Shares prior to the Merger and, as neither the Corporation nor the Trust was a unitholder of Uranium, neither was issued any additional Equity Shares pursuant to the Merger. Either the Corporation or the Trust may from time to time purchase additional Equity Shares for investment purposes.
This press release may contain forward-looking information, including with respect to future acquisitions of Equity Shares of MBN. The forward-looking information contained in this press release constitutes current expectations, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents an estimate as of any date other than the date of this press release.
SOURCE MFL Management LimitedFor further information:
A copy of the early warning report regarding the impact of the Merger on the Corporation's holdings of Equity Shares can be found at www.sedar.com or can be obtained by contacting the Corporation at the address specified below:
MFL Management Limited
First Canadian Place
58th Floor, P.O. Box 192