WATERLOO, ON, Feb. 1 /CNW/ - LAURENCE CAPITAL CORP. ("LAURENCE") today
announced that Laurence Capital Fund III L.P. will subscribe for shares of
Benbrick Holdings Inc. ("Benbrick Holdings") and become the controlling
shareholder of Benbrick Holdings. Jim Brickman, the founder of Brick Brewing
Co. Limited ("Brick") is the current controlling shareholder of Benbrick
Holdings. In addition, Benbrick Holdings has agreed to acquire an aggregate of
3,154,843 common shares of Brick. As a result of these transactions, Benbrick
Holdings, Laurence Capital Corp. and Jim Brickman will jointly own or exercise
control or direction over, in the aggregate, 4,347,840 issued Brick common
shares, which represent approximately 19.9% of the issued and outstanding
Brick common shares.
Closing of the subscription for shares of Benbrick Holdings is subject to
certain conditions typical for this type of transaction.
The purchase of shares of Benbrick Holdings is being made for investment
purposes. Laurence Capital Corp., Benbrick Holdings and Jim Brickman have no
present intention to further increase their beneficial ownership of or control
or direction over Brick shares. Laurence Capital Corp., Benbrick Holdings and
Jim Brickman may in the future take such actions in respect of their holdings
as they deem appropriate in light of the circumstances then existing,
including the purchase of additional shares or other securities of Brick
through open market purchases or privately negotiated transactions, or the
sale of all or a portion of their holdings in the open market or in privately
negotiated transactions to one or more purchasers.
About LAURENCE CAPITAL CORP.
Laurence Capital Corp. (LCC) is a Waterloo-based merchant bank. LCC
manages three investment funds, Laurence Capital Fund I LP, Laurence Capital
Fund II LP and Laurence Capital Fund III LP, and provides capital and
stewardship to Canadian growth companies.
For further information:
For further information: Jeff Paterson, Telephone: (519) 749-8893 ext.
227, Email: email@example.com