MONTREAL, Feb. 26, 2014 /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 unsecured convertible debentures ("Debentures") of Extenway Solutions Inc. ("Extenway") [TSX Venture Exchange: EY], for a principal amount of $500,000.
Extenway is a supplier of client-focused solutions for the healthcare
industry. Services offered by Extenway include interactive television,
bedside terminals for patients, Internet, entertainment, content
integration, advertising, education and integrated solutions.
The subscription was made through a private placement under the
accredited investor exemption provided by applicable securities
The Debentures mature on August 31, 2017, and bear an annual compounded
interest rate of 12%.
The Debentures are convertible at a conversion price of $0.13 per common
share of Extenway ("Common Shares") if the conversion is effected no later than April 29, 2016, or at a
conversion price of $0.17 if the conversion is effected after that
Before this subscription, La Caisse held 11,492,308 Common Shares and
Debentures convertible into 11,538,450 additional Common Shares, for a
total of 23,030,758 Common Shares, or 15.54% of such Common Shares
If La Caisse exercised its conversion right before April 29, 2016, it
would therefore acquire ownership of 3,846,154 Common Shares, which
would bring its ownership of the Common Shares to 26,876,912, or 17.68%
of the Common Shares outstanding.
La Caisse may increase or decrease its investment in Extenway as a
function of market conditions or other relevant factors.
This news release is issued in accordance with the early warning
requirements stipulated by securities regulation, which require that
investors, including the 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.
SOURCE: Caisse de dépôt et placement du Québec
For further information:
Caisse de dépôt et placement du Québec