TORONTO, April 18, 2016 /CNW/ - GENTERRA CAPITAL INC. ("Genterra") would like to remind holders of shares of Genterra Inc. and Consolidated Mercantile Incorporated of the upcoming expiry date of the 2010 amalgamation sunset clause.
The May 10, 2016 expiry date for the exchange of shares of Genterra Inc. and Consolidated Mercantile Incorporated into shares of Genterra Capital Inc. (the "Expiry Date") pursuant to the amalgamation of Genterra Inc. and Consolidated Mercantile Incorporated on May 10, 2010 to form Genterra Capital Inc. (the "Amalgamation"), is the sixth anniversary of the Amalgamation and the listing and commencement of trading of the common shares of Genterra Capital Inc. on the TSX Venture Exchange under the symbol "GIC".
Under the terms of the Amalgamation, the six year sunset clause provision provides that any certificate which immediately before the effective date of the Amalgamation represented Pre-Amalgamation shares and which has not been surrendered on or before the Expiry Date for exchange into Post-Amalgamation shares, will cease to represent any claim against or interest of any kind or nature in Genterra and the interest of such holder of Pre-Amalgamation shares in Genterra shall be terminated without any repayment of capital or any other compensation in respect thereof.
Effective October 26, 2015, Genterra and its wholly-owned subsidiary Gencan Capital Inc. ("Gencan") completed a plan of arrangement (the "Arrangement"), whereby the Genterra common shares held by its shareholders, other than "interested parties", were exchanged for cash and, subject to the number of Genterra common shares held, common shares of Gencan. As a result, Gencan was spun-off as a public company and Genterra became wholly-owned, directly and indirectly, by its control group. As a result of this Arrangement, holders of shares of Genterra Inc. and Consolidated Mercantile Incorporated who have not yet surrendered for exchange into Post-Amalgamation shares their share certificates which immediately before the effective date of the Amalgamation represented Pre-Amalgamation shares are entitled until the Expiry Date to surrender such certificates in exchange for for cash and, subject to the number of Genterra Inc. and/or Consolidated Mercantile Incorporated shares held, common shares of Gencan.
To receive certificates and/or cash representing their shares of Genterra Inc. or Consolidated Mercantile Incorporated, as the case may be, registered shareholders of Genterra Inc. or Consolidated Mercantile Incorporated must submit their share certificates, together with completed letters of transmittal, to Genterra's transfer agent, Computershare, 100 University Avenue, 9th Floor, Toronto, ON M5J 2Y1 Attn: Corporate Actions. Registered Genterra shareholders who have not received letters of transmittal should contact Computershare at 1-800-564-6253.
Genterra Capital Inc. is a management and holding company whose assets include rental real estate properties and investments.
SOURCE Genterra Capital Inc.
For further information: Stan Abramowitz, Secretary, (416) 920-0500