OTTAWA, Nov. 19, 2013 /CNW/ - LW Capital Pool Inc. (NEX: "LWI.H") (the
"Company"), announces the cancellation of certain options granted to
Richard Boadway, Chairman and Chief Financial Officer of the Company.
It was recently determined that a grant of 363,000 options to Mr.
Boadway, made on November 7, 2012 (the "Grant"), resulted in Mr.
Boadway exceeding by 60,000 options the maximum permitted option
holdings for one individual under Policy 2.4 of the TSX Venture
Exchange (the "Policy"). Accordingly, with Mr. Boadway's consent, the
Company has cancelled 60,000 options from the Grant. After the
cancellation, in combination with the 60,000 options that Mr. Boadway
held prior to the Grant, Mr. Boadway will hold a total of 363,000
options, which represents 5% of the issued and outstanding shares in
the capital of the Company at the time of its initial public offering,
in accordance with the Policy.
About LW Capital Pool Inc.
The Company is designated as a Capital Pool Company by the TSX-V. The
Company has not commenced commercial operations and has no assets other
than cash. The Company continues to actively pursue a Qualifying
Transaction but as a result of not completing one within the prescribed
time period set by the Exchange, the Company was listed and began
trading on the NEX effective as of September 17, 2012. Any proposed
Qualifying Transaction must be approved by the TSX-V and, in the case
of a non-arm's length Qualifying Transaction, must also receive
majority approval of the minority shareholders. Until the completion
of a Qualifying Transaction, the Company will not carry on any business
other than the identification and evaluation of businesses or assets
with a view to completing a Qualifying Transaction.
For further information regarding the Company and its management team,
please see the Prospectus filed with the Company's disclosure documents
on SEDAR at www.sedar.com.
This press release may contain or refer to forward-looking information
based on current expectations. These statements should not be read as
guarantees of future performance or results. Such statements involve
known and unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially different
from those implied by such statements. Although such statements are
based on management's reasonable assumptions, there can be no assurance
that actual results will be consistent with such statements. These
forward-looking statements are made as of the date hereof and we assume
no responsibility to update or revise them to reflect new events or
SOURCE: LW Capital Pool Inc.
For further information:
P. 613-599-9600 (ext. 253)