TORONTO, Nov. 30, 2016 Callidus Capital Corporation (TSX:CBL) ("Callidus" or the "Corporation") announced today that upon the terms and subject to the conditions of its substantial issuer bid (the "Offer"), Callidus has taken up and accepted for payment an additional 8,200 common shares that were validly deposited to the Offer as of November 30, 2016.
As previously announced, Callidus has extended the Offer to 5:00 p.m. (Toronto time) on December 29, 2016, as may be further extended or withdrawn by the Corporation.
The Offer is for the purchase and cancellation by Callidus of up to 5,071,428 of its outstanding common shares ("Shares") at $16.50 per Share, from its shareholders. Under the Offer, the aggregate maximum purchase price payable by Callidus is Cdn $83,678,562.
Following the take-up of these Shares, the Corporation will have taken up and paid for 2,849,144 Shares, or approximately 56% of the total eligible under the Offer.
This press release is for information purposes only and is not an offer to buy or the solicitation of an offer to sell any Shares.
About Callidus Capital Corporation
Established in 2003, Callidus Capital Corporation is a Canadian company that specializes in innovative and creative financing solutions for companies that are unable to obtain adequate financing from conventional lending institutions. Unlike conventional lending institutions who demand a long list of covenants and make credit decisions based on cash flow and projections, Callidus credit facilities have few, if any, covenants and are based on the value of the borrower's assets, its enterprise value and borrowing needs. Callidus employs a proprietary system of monitoring collateral and exercising control over the cash inflow and outflows of each borrower, enabling Callidus to very effectively manage any risk of loss. Further information is available on our website, www.calliduscapital.ca.
SOURCE Callidus Capital Corporation
For further information: Paula Myson | (416) 945-3226 | [email protected]