TORONTO, Jan. 4 /CNW/ - Futuremed Healthcare Products Corporation (the "Corporation") (TSX: FMD) is pleased to announce that on January 1, 2011, Futuremed
Healthcare Income Fund (the "Fund") completed its conversion to a corporation named Futuremed Healthcare
Products Corporation pursuant to a plan of arrangement (the "Arrangement") under the Business Corporation Act (Ontario) and all related internal transactions.
Effective on the closing of the Arrangement and the related
transactions, the Corporation now directly owns subsidiaries which own
and operate the businesses which were held and operated by the Fund and
its subsidiaries prior to the closing of the Arrangement. The
management and trustees of the Fund are now the management and
directors of the Corporation.
Pursuant to the Arrangement, unitholders of the Fund received one common
share of the Corporation for each unit held on the effective date. The
Corporation now has 15,280,189 common shares issued and outstanding.
Trading of the common shares of the Corporation is expected to commence
on or about January 5, 2011 on the Toronto Stock Exchange under the
Futuremed is Canada's leading value-added distributor of consumable
nursing home supplies and specialized furniture and equipment to the
growing long-term care facilities sector.
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This news releases contains forward-looking statements relating to the
commencement of trading of the Corporation's common shares on the
Toronto Stock Exchange. These statements are not guarantees of future
performance and involve risks and uncertainties that are difficult to
predict, and/or are beyond the Corporation's control. A number of
important factors could cause actual outcomes and results to differ
materially from those expressed in these forward-looking statements.
These factors include those set forth in other public filings. In
addition, these forward-looking statements relate to the date on which
they are made. The Corporation disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise. More information about
these risks and uncertainties can be found in regulatory filings
available at www.sedar.com.
SOURCE Futuremed HealthCare Income Fund
For further information:
Chief Financial Officer
(905) 761-0068, ext. 2222
Toll-free investor relations: 1-800-387-7025