GBO Inc. welcomes new investor
STE-MARIE DE BEAUCE, QC, June 27, 2011 /CNW Telbec/ - GBO Inc. ("GBO" or the "Company") (TSXV: GBO), announces that Montblanc Capital Corporation ("Montblanc"), a real estate investment and development company headquartered in Toronto, Ontario, has entered into an agreement with Fonds de Solidarité des Travailleurs du Québec (F.T.Q.) ("FSTQ") to acquire the 4,490,880 common shares ("Common Shares"), or 25.38%, in the capital of GBO currently held by FSTQ.
As a result, upon closing of the transaction, Mr. Daniel Laporte, representative of the FSTQ on the GBO Board of Directors, will step down and Mr. Ross McBride, President of Montblanc, will be appointed as the representative of Montblanc.
"While this day marks the end of one chapter of GBO's history with the FSTQ as our loyal and stalwart partner, we are excited to be starting a new chapter with the team at Montblanc who, by their investment, are affirming their confidence in the Company's business strategy developed and implemented over the course of the last few years", stated Christopher Wood, Chairman and Chief Executive Officer of GBO. "We would like to take this opportunity to thank the entire team at FSTQ for their years of hard work and dedication that have contributed to the Company's success and health", added Mr. Wood.
For further details on the transaction involving Montblanc and FSTQ, we refer you to the press releases issued by Montblanc nd FSTW which are available on the SEDAR website at www.sedar.com.
Founded in 1946, GBO Inc. is an important Canadian window and door manufacturer. The Company designs, develops, manufactures, markets and distributes a selection of mid-range and high-end energy-efficient wood window arrangements, doors and accessories, sold primarily under the "Bonneville" and "Polar" brands. Recently, GBO launched a line of innovative fenestration products resistant to hurricanes and other impacts. The Company sells its windows and doors to the home improvement and construction markets mainly in Quebec, Ontario, the Maritimes and the Eastern and Southern eastern United States. GBO mainly serves independent building material distributors, distributors specializing in windows, doors and millwork, certain retailers, as well as construction and renovation contractors.
The statements set forth in this press release that describe GBO's objectives, projections, estimates, expectations or forecasts may constitute forward looking statements within the meaning of securities legislation. GBO would like to point out that, by their very nature, forward-looking statements involve a number of risks and uncertainties such that actual results or the measures it adopts could therefore differ materially from those indicated or underlying these forward-looking statements, or could have an impact on the degree of realization of a particular projection. There can be no assurance as to the materialization of the results, performance or achievements as expressed or implied by the forward-looking statements. Unless required to do so pursuant to applicable securities legislation, GBO's management assumes no obligation as to the updating or revision of the forward-looking statements as a result of new information, future events or other changes.
Neither 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. This press release contains forward-looking statements based on the Company's the current outlook regarding the future. Such information involves a number of risks, uncertainties and assumptions. Actual results and events could differ materially from those indicated or underlying the forward-looking statements.For further information:
|Source :||GBO Inc.|
| Contact : || Christopher M. Wood, Chairman of the Board and Chief Executive Officer |