La Caisse de dépôt et placement du Québec subscribes for common shares of Extenway Solutions Inc.

MONTRÉAL, March 26, 2015 /CNW Telbec/ - La Caisse de dépôt et placement du Québec ("la Caisse") announced that, under the terms of a subscription agreement, it has subscribed for 18,750,000 common shares ("Common Shares") of Extenway Solutions Inc. ("Extenway" or the "Company") [TSX Venture Exchange: EY], representing 10.82% of such issued and outstanding shares, for a price of $0.08 per share (the "Subscription")

La Caisse also announced that concurrently with the subscription, it concluded a debt settlement agreement with the Company under which la Caisse completed the conversion of all convertible unsecured debentures of the Company that it held (the "Debentures"), including related interest thereon at a price of $0.08 per share (the "Debenture Conversion"). Following the conversion of the Debentures, la Caisse holds 31,635,137 additional Common Shares of the Company.

Before the Subscription and the Debenture Conversion, la Caisse held 11,492,308 Common Shares of Extenway and Debentures that may allow it to acquire up to 16,412,645 Common Shares at a price of $0.13 per Common Share, representing a total holding of 27,904,953 Common Shares or 17.49% of this class of outstanding shares.

Following the Subscription and the Debenture Conversion, la Caisse now holds 61,877,445 Common Shares of Extenway, or 21.19% of this class of outstanding shares.

La Caisse may increase or decrease its investment in Extenway based on market conditions or other relevant factors.

The subscription was made through a private placement under the accredited investor exemption provided by applicable securities regulation.

This news release is issued in accordance with the early warning requirements stipulated by securities regulation, which require that investors, including la Caisse, issue and file a news release and a report, when they acquire beneficial ownership of securities with voting rights that would represent, with the securities they already hold, 10% or more of the outstanding shares of the class.

In accordance with the Early Warning System, a copy of this news release and the report will be filed with the applicable Canadian Securities Administrators and will be available on SEDAR's website (www.sedar.com) and from the person referred to below.

ABOUT LA CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

La Caisse de dépôt et placement du Québec is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2014, it held $225.9 billion in net assets. As one of Canada's leading institutional fund managers, la Caisse invests in major financial markets, private equity, infrastructure and real estate, globally. For more information about la Caisse: www.lacaisse.com.

 

SOURCE Caisse de dépôt et placement du Québec

For further information: Jean-Benoît Houde, Senior advisor, Media relations, 514 847-5493, jbhoude@lacaisse.com

RELATED LINKS
http://www.cdp.capital.com

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