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TORONTO, Aug. 25 /CNW/ - ISG Capital Corporation (TSX-V: SUS.P) (the
"Corporation") is pleased to announce today that it has received conditional
approval from the TSX Venture Exchange ("TSXV") to complete its proposed
acquisition of 311 Ingersoll Road in Ingersoll, Ontario as its qualifying
transaction (the "Qualifying Transaction").
The Corporation also announced that a special meeting of its shareholders
will be held on September 17, 2008 in order to obtain shareholder approval for
the Qualifying Transaction. A management information circular in respect of
the special meeting containing details regarding the proposed Qualifying
Transaction and the property to be acquired is being mailed to shareholders
and is also available online at www.sedar.com.
Assuming all conditions to closing are satisfied, including the receipt
of shareholder approval and the completion of the Corporation's previously
announced private placement, the Qualifying Transaction is expected to close
on or about September 18, 2008.
Completion of the Qualifying Transaction is subject to a number of
conditions, including but not limited to, TSXV acceptance and majority of the
minority shareholder approval. The Qualifying Transaction cannot close until
the required shareholder approval is obtained. There can be no assurance that
the proposed Qualifying Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management
information circular, any information released or received with respect to the
Qualifying Transaction may not be accurate or complete and should not be
relied upon. Trading in the securities of a capital pool company should be
considered highly speculative.
The TSXV has in no way passed upon the merits of the proposed Qualifying
Transaction and has neither approved nor disapproved the contents of this
press release. The TSXV does not accept responsibility for the adequacy
or accuracy of this press release.
For further information:
For further information: David Ogden, Chief Executive Officer, (416)
203-7538 or (877) 877-0213