SVL HOLDINGS INC. ANNOUNCES PROPOSED SHARE CONSOLIDATION

BRACEBRIDGE, ON, Jan. 13 /CNW/ - SVL Holdings Inc. ("SVL" or the "Company") announced today that SVL's board of directors has approved the consolidation of the Company's common shares on a 2,000:1 basis (the "Consolidation") and has recommended that the shareholders of the Company vote in favour of a resolution to approve the Consolidation. 

A special meeting of shareholders of the Company is to be held on February 12, 2011 to consider a resolution to approve the Consolidation.  If the Consolidation is authorized by the shareholders at the meeting, each shareholder will be entitled to one "new" share of the Corporation for each 2,000 common shares held by the shareholder as at the effective date of the Consolidation, which is expected to be on or about February 14, 2011, and payment of $11.00 in cash for each common share in excess of a 2,000 share increment held as at such date.  Shareholders of SVL holding fewer than 2,000 common shares as at the effective date of the Consolidation will be entitled to receive payment of $11.00 in cash for each common share held by such shareholder as at such date.

The Consolidation is intended to enable the Company to reduce its expenses by ceasing to be a public company for the purposes of applicable securities laws.  At this time in the Company's history, benefits of being a public company are far outweighed by the costs and compliance expenses now associated with being a public company, especially the anticipated high costs related to the required changeover to International Financial Reporting Standards, as well as the on-going regulatory obligations to public shareholders.  If the Consolidation is approved and implemented, it is intended that an application will be made to the Ontario Securities Commission for an order deeming the Company to no longer be a reporting issuer for purposes of securities legislation.  Upon such order being issued, the Company would no longer be subject to the ongoing disclosure and other obligations currently imposed upon the Company as a public company.

The full details of the Consolidation will be disclosed in a Management Information Circular which will distributed to shareholders in connection with the special meeting of shareholders of the Corporation and which will be available under the Company's profile on SEDAR at www.sedar.com.

About SVL Holdings

SVL Holdings Inc. and its subsidiaries are engaged in the business of operating an amusement park, Santa's Village, and campground, Whispering Pines, in Bracebridge, Ontario.

Forward Looking Statements

This release contains forward-looking information within the meaning of applicable securities laws ("forward-looking statements") that relate to SVL's intentions with respect to the Consolidation, costs related to the required changeover to International Financial Reporting Standards and on-going regulatory obligations and other matters.  All statements, other than statements of historical fact, are forward-looking statements.

Such forward-looking statements involve known and unknown risks, uncertainties and other factors and assumptions that may cause the actual results, performance or achievements of SVL to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, SVL's ability to effect the Consolidation and other factors discussed in this news release.  Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made.  Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

SOURCE SVL Holdings Inc.

For further information:

Jamie Hopkins, General Manager of SVL at (705) 645-2512

Profil de l'entreprise

SVL Holdings Inc.

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