MORIN-HEIGHTS, QC, Dec. 19, 2019 /CNW Telbec/ - Capital Pro-Égaux Inc. (the "Company") (NEX: CPE.H) announces that its wholly owned subsidiary, Technique d'usinage Sinlab Inc. ("Sinlab"), has entered into a confidential settlement agreement and mutual general release (the "Confidential Settlement Agreement") relating to the professional negligence action for damages commenced in 2013 in Florida against Sinlab's counsel who represented Sinlab in litigation in Virginia against certain entities who violated Sinlab's pioneering digital dentistry patent portfolio (the "Action").
Pursuant to the Confidential Settlement Agreement, the Action has been resolved to the mutual satisfaction of the parties. The Confidential Settlement Agreement requires that terms thereof remain confidential.
With this most recent development regarding the Action, and taking into account the expiration of Sinlab's patents in the dental prosthesis restoration industry, the Board of Directors will need to undertake a review of strategic alternatives available to the Company in terms of its business prospects and use of available cash, which may include a cash distribution to its shareholders, the sale of the Company, the monetization of the Company's public vehicle, including by way of a reverse takeover transaction with an operating venture, and the liquidation and dissolution of the Company. At this point in time, the payment of a cash distribution to shareholders ranks amongst one of the top objectives of the Board of Directors.
The Company will need to incur costs and expenses in relation to the conduct of this review process and the implementation of any alternatives that may be selected. The Company intends to make additional announcements as warranted upon new developments taking place.
Caution regarding forward-looking statements
This news release contains certain forward-looking statements regarding the Company's expectation of future events, including statements relating to our evaluation of various strategic alternatives and costs and expenses to be incurred. Such expectations are based on certain assumptions based on currently available information. If these assumptions prove incorrect, actual results may differ materially from those contemplated by the forward-looking statements contained in this press release. Factors that could lead actual results to differ include, amongst others, time and money involved in undertaking a strategic review process, absence of interest from third parties or terms and conditions required by any third party, developments with securities regulatory authorities in relation to the cease trade order and continuous disclosure obligations, uncertainty as to the final result and other risks. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by securities laws.
Neither NEX, the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of NEX and the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Capital Pro-Egaux Inc.
For further information: about this Press Release: Capital Pro-Égaux Inc., Pierre Désormeau, President, [email protected]