MONTREAL, March 3 /CNW Telbec/ - Benvest Holdings Limited ("Benvest Holdings") announced today that they have acquired ownership and control over an aggregate of 4,764,200 class A common shares of New Look Eyewear Inc. (formerly Sonomax Hearing HealthCare Inc.) (the "Corporation"), pursuant to a previously disclosed court supervised arrangement providing for the conversion of the Benvest New Look Income Fund (the "Fund") into a corporation (the "Arrangement"). As part of the Arrangement, all of the units of the Fund and the exchangeable shares of New Look Eyewear Inc. ("Old New Look"), including those owned by Benvest Holdings, were exchanged for class A common shares of the Corporation. Prior to the Arrangement, Benvest Holdings owned an aggregate of 4,764,200 units of the Fund and exchangeable shares of Old New Look, representing approximately 47.6% of the Fund assuming the exchange of the exchangeable shares for voting units of the Fund. Following the Arrangement, Benvest Holdings owns and controls over an identical aggregate number of 4,764,200 class A common shares, representing approximately 47.6% of the outstanding class A common shares.
Benvest Holdings is the largest shareholder of the Corporation. Depending on market conditions and other factors, Benvest Holdings may from time to time acquire additional securities of the Corporation or dispose of such securities in the open market, by private agreement or otherwise.
SOURCE BENVEST HOLDINGS LIMITED
For further information: For further information: Lise Melanson, (514) 877-4299, ext. 2234