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TORONTO, Feb. 10, 2016 /CNW/ - Faircourt Asset Management Inc. (the "Manager"), the manager of Metals Plus Income Corp. (the "Company") (TSX: MPI), confirmed today its intention to terminate the Company on or about February 26, 2016 (the "Termination Date") as was previously announced on January 12, 2016. This press release satisfies the notice requirements of the Manager and the Company to holders of Class A shares (the "Shares") of the Company in accordance with the Company's articles and applicable securities laws.
Shares of the Company outstanding on the Termination Date will be automatically redeemed as of the Termination Date. Holders of record of Shares on the Termination Date will receive their pro rata portion of the remaining assets of the Company after all liabilities of the Company have been satisfied or appropriately provided for, subject to compliance with any securities or other laws applicable to such distributions. Such holders of Shares will receive for each Share an amount in cash equal to the net asset value per Share calculated on the Termination Date.
Payment is expected to be made as soon as practicable following the Termination Date. Holders of Shares need not take any action to receive payment.
Certain statements contained in this news release constitute forward-looking information. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Company, to the future outlook of the Company and anticipated events or results and may include statements regarding the future financial performance of the Company. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. These forward-looking statements are made as of the date of this press release and the Company does not undertake to update any forward-looking statements that are contained in this press release, except in accordance with applicable securities laws.
SOURCE Faircourt Asset Management Inc.
For further information: Faircourt Asset Management Inc. at (416) 364-8989 or 1-800-831-0304 or visit our website at www.faircourtassetmgt.com.